This has been one of the craziest weeks I can remember in more than 20 years.
I already told you how Monday was one of the strangest trading days I’ve ever experienced. And while the rest of the week wasn’t quite as wacky, it was certainly different.
One theme was a rotation out of tech stocks, so the hottest sector this week is particularly interesting.
Electric vehicles, or EVs. There’s no debate about that.
We saw huge moves by the “Chinese Big Three.” NIO Limited (NYSE:NIO), Li Auto (NASDAQ:LI), and XPeng (NASDAQ:XPEV) have investors in a tizzy around the globe.
In today’s new episode of MoneyLine, I will breakdown not only the Big Three in China but also look at the current global leader, Tesla (NASDAQ:TSLA), as well as some smaller names in the booming sector.
Through the craziness, the market looks great overall. The S&P 500 is only a few ticks away from closing at yet another historic high. That might surprise you because the media headlines would have you thinking otherwise. But I’ll say it again: You must ignore the masses and look at what is really going on in the economy and stock market.
Also in today’s podcast, I talk about another sector that has been hot lately — one that is particularly interesting because it could soar if more shutdowns take place in the country.
Any idea?
Pets! I’ll name two stocks I’ve been watching that are starting to look attractive again with the spike in COVID-19 cases.
And top to it all off, I’ll share one SPAC to watch as a secondary play on the future of EVs and self-driving cars. This stock was hot but is now trading under the radar. You do not want to miss the name.
Have a great weekend.
On the date of publication, Matthew McCall did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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