Here are the stocks and industries we are watching this week.
This company went public through a SPAC earlier this year. It develops and operates large indoor farms called controlled environment agriculture (CEA) facilities. AppHarvest claims that these facilities can produce 30-times as much produce on the same acreage as open-field farms while using 90% less water, with no agricultural runoff, and no soil erosion. Following a blowout first-quarter result last week, this stock cements itself on our watchlist this week.
Warren Buffett’s single most important investment is the insurance company, Geico and many Lemonade shareholders are hoping the stock will be their own Geico. It hasn’t been a smooth ride though, Lemonade’s shares declined over 18% following the mobile insurance provider’s earnings release earlier this month. However, shares have recovered and are up more than 22% since the earnings beat despite the wider tech sell-off that has hurt growth and tech stocks. We are watching Lemonade to see if it can continue the momentum this week and whether it can be our Geico in the long term.
Semiconductor and Chips
Yesterday, Nvidia shares jumped 4% after the company announced a 4-for-1 stock split. The stock split will make shares cheaper for investors that have been keeping tabs on this chipmaker. In the last 5 days, the company’s shares have risen more than 10% and there may be room for growth when the company announces its earnings on Wednesday.
Salesforce makes everything businesses need to run their sales and customer service operations and it recently acquired instant workplace messenger Slack. As Salesforce reports its earnings on Thursday, the robust demand for digital tools is sure to boost its bottom line. In the last five years, this company has grown from a loss maker to a profitable king. The stock has also rewarded investors by growing 166% in the same time period. We are watching to see how Salesforce has performed over the quarter.
From June 1st to June 3rd, we’re going to be talking to the brightest minds in the world of personal finance and investing. We’re going to have wonderful people from some of the world’s best stock recommendation services like The Motley Fool and MyWallSt and Wall Street news site, Benzinga.
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