What happens after readers get the hottest stocks that already gained 11.0% or more? Analysts often upgrade stocks well after the stock tripled in return or more. Look at Nvidia (NVDA).
With the risks of a pullback following a rally considered, consider Viasat (VSAT). The stock gained 14.56% on a July 22, 2024, report that China removed sanctions against Viasat. This is a rare decision that may lighten the tension among China, Taiwan, and the U.S.
In January, China sanctioned Viasat and four other U.S. defense firms. The U.S. State Department, however, approved around $300 million in weapons sales to Taiwan.
In the biotech sector, Beam Therapeutics (BEAM) added 12% on July 23, 2024. H.C. Wainwright analysts started covering the firm with a buy rating. It set a $80 price target. BEAM stock closed at $30.32. The upgrade caused a short squeeze, where the short interest was 14.95%.
The research firm is bullish on Beam’s base genetic editing technology. Still, Beam needs clinical validation to prove that the editing is safe and would work in humans.
Hims & Hears Health (HIMS) continued to hold at nearly $23. The stock is up 173% in the last year. On Monday, the firm appointed Kare Schultz, former Novo Nordisk (NVO) president, to the board. Schultz previously served as Teva’s CEO.
