Investors continued to place their bets on the shifting advertising platform. Alphabet (GOOG) is likely to dominate the advertising space. However, markets believe that AppLovin (APP) will continue its strong growth.
In the ad space, the first stock to watch is The Trade Desk (TTD). TTD stock lost 7.42% on Monday to close at $25.07. CEO Jeffrey Green bought 6 million shares, investing $148 million, on March 7.
Western Digital (WDC), known as WD to appeal to the AI investors, added 10% yesterday. Watch if WDC stock holds its all-time high in today’s trading. Similarly, Seagate (STX) shares are also rallying. Momentum investors are betting that Micron’s (MU) strong results will boost memory and storage suppliers today.
Look out for shares of Ares Management (ARES) continuing Monday’s 6.57% rally. The private credit anxiety that hurt Morgan Stanley (MS), Blue Owl Capital (OWL), and Brookfield Asset Management (BAM) is easing.
In the airline sector, value investors are picking Delta Air Lines (DAL). Shares bounced off the $60 support level. Bookings will likely remain strong, despite soaring fuel costs adding to airline ticket prices.
Last but not least, watch Lilly (LLY). The obesity drug supplier fell after HSBC cited valuation risks in LLY stock. Analyst Rajesh Kumar set an $850 price target, down from $1,070. The analyst questioned Lilly’s addressable market reach in the obesity sector.
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