Investors are on the hunt for undervalued, underfollowed and emerging stocks, and retail traders have countless methods at their disposal to uncover new information.
For some, this may be overwhelming.
Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks each week that are just under the surface and warrant attention.
The index layers editorial commentary to help make sense of why these stocks should be of interest and whether investors and casual readers should watch them.
Here is a look at the Benzinga Stock Whisper Index for the week of June 15, 2023.
SoFi Technologies Inc SOFI: One of the most popular stocks of the last week was fintech SoFi, which has seen shares surge over 100% in the last month.
Analysts are now throwing water on the rally with Oppenheimer downgrading shares to Perform.
Shares have rallied thanks to mentions of a short squeeze and previous positive analyst coverage. An analyst at BTIG said SoFi is a leader in the consumer-focused fintech space and this position had not been reflected in the company’s share price. The analyst said GAAP profitability by the end of fiscal 2023 could be a key catalyst.
Nikola Corp NKLA: Electric vehicle company has seen shares up 86% in the last month. Shares have been volatile in recent weeks as the company saw shareholders reject an authorization for issuing more shares.
The move came as the company is weeks away from commercial production of its hydrogen fuel cell truck and said it needs more financing to move forward.
Related Link: Nikola Stock Surges After Breaking Up From Bearish Trend Line: The Bull, Bear Case
UnitedHealth Group Inc UNH: The leading healthcare company saw shares drop this week after comments from an executive at a Goldman Sachs conference were digested.
Tim Noel, CEO of the company’s Medicare and retirement business, discussed higher demand for outpatient procedures from Medicare patients. Noel added this could lead to the company’s costs coming under pressure in the second quarter.
Cineverse Corp CNVS: Formerly known as Cinedigm, shares of entertainment company Cineverse Corp are up 58% in the last month. The move comes as shares have fallen significantly in 2023. The company has announced a reverse split in recent weeks and a new $8 million share offering.
WeTrade Group Inc WETG: The e-commerce company saw increased interest from investors after announcing the launch of a large-scale language model generated by artificial intelligence.
Shares are up over 50% in the last month. The stock saw several trading halts on Wednesday on high volatility. The company is also considered a low-float stock with around 500,000 shares outstanding.
"Since 2023, in response to the changes in global business morphology, WeTrade has gradually shifted its business focus to overseas. In addition to the underlying product sectors such as AI intelligent products, the new energy business and cross-border financial business will become the focus of the group's business," WeTrade Group CEO Hechun Wei said.
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