When Canada Pension Plan (“CPP”) disclosed that it bought Tesla (TSLA) stock in Q1 and sold both General Motors (GM) and Ford (F), it shared one unusual trade.
Its purchase of Nio (NIO), a China EV supplier, in Q1 is troubling. NIO stock traded at between $4.70 - $9.00 in that period. NIO stock closed at $4.72. Expect Nio shares to attract trading volume today. However, GM, Ford, and Stellantis (STLA) are better bets. Nio must compete with EV startup star Xiaomi (XIACF). Li Auto (LI) and BYD (BYDDF) are both profitable firms.
AMD (AMD) will try to regain the 4.49% loss in Monday’s trading. Morgan Stanley (MS), an influential bank, downgraded the stock.
Among the meme sensation speculations, expect Gamestop (GME) to top the trading volume list today. GME lost 12% after Keith Gill appeared on YouTube to live-stream. Gill did not offer anything substantive to turn Gamestop’s failing business around.
Among the Magnificent 7, Apple (AAPL) risks pulling back from nearly $200. At its developer conference, the firm failed to announce an in-house development for AI.
Drug manufacturers are out of favor, including Pfizer (PFE) and Bristol-Myers (BMY). PFE stock risks re-testing the $25 - $27.50 support zone after backing off from the $30 level.
BMY stock potentially bottomed after attracting stock buyers recently.
