Stocks have encountered some selling pressure over the past week. The Nasdaq is now down over 10% from its peak.
This is likely to be a buying opportunity given the continued improvement in the economy’s figures from a month to month perspective, and the Fed’s easy-money policy…
POWR Ratings can help you figure out the best stocks to buy. Stocks that get upgraded during poor market conditions have better odds of outperformance. d of the week.
Let’s take a look at a couple of the latest stocks upgraded in the POWR Ratings that stand a good chance of trading higher into year-end: Penn National Gaming (PENN), WD-40 (WDFC), Sonic Automotive (SAH), and Citi Trends (CTRN).
Penn National Gaming (PENN)
The gaming stocks have been quite volatile amidst the pandemic as everyone seems uncertain as to whether the casinos will fully reopen across the entirety of the country and the extent to which they will resume regular operations. It appears as though most casinos will reopen this year, albeit with limited occupancy.
PENN owns and manages both gaming and racing businesses highlighted by video gaming terminals. In particular, PENN provides the masses with popular slot machines. PENN was recently upgraded in the POWR Ratings to a Strong Buy as casinos are reopening throughout the country. Even the “Nanny State” of New York is reopening its state-run casinos this week.
The POWR Ratings show PENN has A grades in each POWR Component but for its Industry Rank of C. Furthermore, PENN is ranked #1 of more than 20 stocks in the Entertainment – Casinos/Gambling category. It is hard to believe this stock dipped down to around $5 in March. PENN is up a whopping 51.5% in August alone.
PENN’s relationship with Barstool Sports should help the stock move toward its 52-week high of $59.10 as long as the NFL season is played to completion.
It is quite rare that a publicly-traded company excels selling a single product. This is the case with WDFC, the company behind WD-40 that you likely have in your basement or below your sink. That much more WD-40 will be sold now that most…
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