Polls that suggested Trump led over Harris lifted Trump Media & Technology (DJT) by 15.5% on Wednesday. The short interest of 5.87% suggests that DJT stock could rally back to $40.
DJT stock might benefit from Tesla (TSLA) CEO Elon Musk supporting the former president.
Stock markets will speculate on the money-losing firm. In effect, the stock will move in reaction to poll data. As a result, election day will have a meaningful impact on DJT shares.
In the Far East, speculators who want to bet that China turned itself around may trade the China Large-Cap ETF (FXI). The ETF, which has assets under management of $10.18 billion, needs China’s economy to recover. Goldman Sachs is bullish, increasing its China GDP forecast to 4.9% for 2024. Blackrock (BLK) thinks that the Chinese government will announce a major fiscal stimulus. This does not have an impact on its long-term structural issues in real estate. Still, it should lead to a rally in FXI stock.
Markets put aside concerns that Super Micro Computer (SMCI) did not file its annual report. The stock might break out above $50.00. Short-sellers, however, are betting against it. The short interest is 16.2%.
Investors who want a safer server supplier may hold Hewlett Packard Enterprise (HPE), NetApp (NTAP), or Dell Technologies (DELL) instead. Seagate (STX) and Western Digital (WDC) are also lower risks. Those storage suppliers trade at low P/E ratios.
