Amid the record-breaking stock market advancement, value hunters should look at beat-up stocks.
Tinder owner Match (MTCH) gained 9% in after-hours trade after activist investors Starboard took a 6.5% position in the stock. The activist wants the firm to fix Tinder and capitalize on Hinge. In addition, it wants the firm to go private if it does not fix its business or to buy back stock more aggressively.
In the tech sector, Broadcom (AVGO) and Nvidia (NVDA) trade at a premium. However, their recent stock split should lead to heavier buying from retail investors.
In the electric vehicle sector, Lucid Group (LCID) may look like a stock trading at a discount. Despite falling by 15% on Monday, this EV stock is not a buy. Similarly, Rivian Automotive (RIVN) looks like a discount but continues to lose too much per unit sold. Although Volkswagen invested $5 billion in Rivian, this will do little to help the firm compete with Tesla (TSLA).
Tesla’s cyber truck commands a premium, selling for over $100,000. Once sales of the limited edition unit end, Tesla will sell a mainstream variant at a lower price. Consider taking profits in RIVN and LCID stock after their share price jumped.
