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Yahoo BusinessJul 10, 2020
3 "Strong Buy" Penny Stocks That Could See Outsized Gains
The market's roller coaster week has some investor spooked, wondering if the recent bullish streak will hold. They can take heart from JPMorgan strategist Marko Kolanovic, who believes that the bull spirit isn't gone, and that the S&P 500 will break out of the 250-point range it has been stuck in since early June. He doesn't say that the massive gains of April and May will return, but Kolanovic does believe that the index will regain the all-time record levels it saw in mid-February.Kolanovic notes that equities are cheap for now, when compared to bonds, after the effects of the economic stimulus policies. He also points out that the risks - of a second corona wave, or a Joe Biden victory in November - are likely overstated, and that as hedge managers realize this, they will shift funds into the stock market. If the optimists are right, and markets are heading to record highs, then now is the time to prepare your portfolio.And this brings us to penny stocks, those low-cost equities priced below $5 per share - are a high-stakes opportunity with upsides that frequently approach several hundred percent and a low enough cost of entry to mitigate the attendant risk. These companies are priced low for a reason, but for those that break out, the rewards are tremendous.With this in mind, we've used the TipRanks database to pinpoint three penny stocks poised for sky-high gains. To minimize the risks, all three combine high ratings from Wall Street's analysts, and a growth potential of 90% or higher.Pixelworks (PXLW)We'll start wi

MarketWatch MarketPulseJul 10, 2020
Wingstop downgraded as capital for expansion becomes scarce
Wingstop Inc. was downgraded to neutral from buy at BTIG where analysts are concerned that the chicken chain's ability to expand will be constrained by a lack of funds. Wingstop has benefited from investments in digital and delivery during the coronavirus pandemic, and the company says 80% of its domestic business before the pandemic were off-premise. "We believe investors will now shift their focus to unit development, which could be stifled by access to capital," BTIG analysts led by Peter Saleh said. "We continue to hear that franchisees across quick service are eager to restart development and reimaging projects, but that access to capital is limiting the pace of these investments as bank lending has been diverted to supporting restaurants and small business owners." Analysts also think Wingstop's core customer will be hurt by the end of enhanced unemployment benefits later this month. Wingstop stock has rallied 58.6% for the year to date, compared with a 2.6% decline for the S&P 500 index [s:spx]. The steep increase makes this the right time to "move to the sidelines," BTIG said, though analysts are still confident about the company's long-term potential. Wingstop shares are down 1% in Friday trading.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJul 10, 2020
American Airlines could cancel some Boeing orders: WSJ
American Airlines Group Inc. is threatening to cancel some orders of the Boeing Co. 737 Max jet due to financing troubles, The Wall Street Journal reports. American Airlines ordered 17 of the planes for delivery this year, but has struggled to secure the money to pay for them. With travel halted for many consumers due to the coronavirus, airlines and other companies in the travel industry have been under pressure. United Airlines Holdings Inc. announced this week that it could furlough 36,000 workers in October due to diminished demand. American Airlines stock stock has plummeted more than 60% for the year to date. Boeing shares are down 46.3%. And the Dow Jones Industrial Average has slumped 9.5% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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