The hype in tech firms selling artificial intelligence solutions spread to the independent power producer market. Vistra (VST) peaked in May at $107.24. Throughout the summer, VST stock trended lower. It broke below key support levels (at the 50-day moving average).
On Monday, Vistra fell again, dropping by 11.34%. $64 is the next support price at the 200-day simple moving average. The stock is expensive, trading at a 59.4x P/E. However, its forward P/E is 11.1 times.
Monolithic Power (MPWR) dropped by 10.28% on Monday. Watch for traders to trade MPWR stock at the 50-day simple moving average ($838.63). In the third quarter, markets expect the firm to benefit from AI-related server demand in the enterprise market. AI consumes vast amounts of power. This would raise Monolithic’s revenues.
After losing 9.6% yesterday, watch out for Constellation Energy (CEG) reversing its downtrend. In Q2, the firm reported revenue growing by 0.5% Y/Y. For FY 2024, the company expects non-GAAP EPS in the range of $7.60 - $8.40.
Dexcom (DXCM) continues to try to break out above $75.00. Glucose monitoring devices have a growing addressable market. More Americans have prediabetes and will need DexCom’s approved Stelo.
In the beer market, watch Molson Coors (TAP). The stock rallied on Monday on speculation that it canceled its presentation at a Barclays conference. If the firm bought a competitor, it should buy Boston Beer (SAM).
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