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After an extended period of outsized gains, it appears the Amazon (AMZN) rally is pausing for a breather. This week, Amazon shares have ended each session in the red.However, ahead of Amazon’s 2Q earnings next week (Thursday, July 23), Stifel analyst Scott Devitt suggests investors pull the trigger on the e-commerce giant’s stock, as the 5-star analyst expects the rally to resume shortly.Devitt rates AMZN a Buy along with a $3,300 price target, implying there’s gas in the tank for another 11.5% of gains. (To watch Devitt’s track record, click here)It’s unlikely Amazon shares will remain in a downtrend for long. With coronavirus cases on the rise again, Amazon will probably reap the rewards from another period of people staying in, whether by choice or due to enforced shelter in place measures.This is a point picked up by Devitt, who said, “Amazon stands as a primary beneficiary of the shift in...
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]...
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]...
Mark Fleming, First American Chief Economist joins the On the Move panel to discuss
to discuss the impact of COVID-19 on the housing market....
(Bloomberg) -- The U.S. wants a judge to block a Canadian mining company’s sale of shares of refiner Citgo Petroleum Corp.’s parent, which is owned by the country of Venezuela.Justice Department lawyers Wednesday asked U.S. District Judge Leonard Stark in Delaware, where Citgo’s parent is incorporated, not to bless Crystallex International Corp.’s request to sell the shares until U.S. regulators finish examining the deal. Crystallex is seeking to enforce a $1.4 billion arbitration award against Venezuela, most of which remains unpaid.The U.S. move backs arguments by lawyers for Venezuelan opposition leader Juan Guaido, who is recognized by more than 50 nations as the country’s legitimate leader after strongman Nicolas Maduro was accused of rigging his 2018 re-election. Guaido is opposing the sale of Citgo’s assets to protect one of the country’s main sources of hard currency.“This court should not authorize Crystallex to take further steps toward a forced sale” of the...
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