1/ Deep Value BNTX Sees Momentum Pick Up
2/ Bitcoin Nears New Breakout
3/ Net Highs on the Nasdaq Support Higher Prices
4/ Shark Ninja Reverses after a Powerful Uptrend
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1/ Deep Value BNTX Sees Momentum Pick Up
Having benefited massively from the COVID pandemic, BNTX has since fallen out of favor with investors, declining more than 80%. Declines have been so severe that BNTX has become a deep-value play with a market cap of $24 billion while sporting only $2.5 billion in liabilities versus $24 billion in assets, with nearly $20 billion being current assets. Once current assets are discounted, most of the business can be had for very little. Today, the stock saw substantial interest as it surged 11% on the largest volume in over two years. It appears some investors have determined that BNTX is finally attractive again.
2/ Bitcoin Nears New Breakout
Having garnered substantial ETF inflows, Bitcoin has surged near its record highs once more. Initial enthusiasm subsided as the ETF corrected in April and May. However, renewed optimism that a similar Ethereum ETF approval may soon occur has bolstered interest in crypto once more. As a result, IBIT (one of the most successful Bitcoin spot ETFs) is approaching a breakout after forming a double-bottom basing pattern.
3/ Shark Ninja Reverses after a Powerful Uptrend
Restaurants have been hit with numerous obstacles, including higher food, employee, and real estate costs. These increases need to be passed on to an already overstretched consumer. As a result, eating at home has become more appealing, and Shark Ninja(SN) has ridden the wave of innovative at-home cooking appliances.
The stock has soared since its IPO, but enthusiasm may have become excessive as it formed a major reversal at a well-defined upper channel line. A retracement back to its 50-day moving average is likely and may set up a new opportunity to buy.
4/ AZEK Building Supplier Preparing for Much Higher Prices
Investing legend Warren Buffett recently said, “AI may be better for scammers than society.” This paints a bleak outlook for AI, but it also highlights a bright future for companies that can help prevent bad actors from exploiting cybersecurity vulnerabilities.
If we can’t identify whether an image is real or fake, better security will be required to keep cyber infrastructure safe.
CrowdStrike (CRWD) led its peers in 2023 and continues to do so in 2024. It has already notched new all-time highs, far ahead of the IHAK Cyber Security ETF. Anyone seeking an investment in the cyber space should focus on CRWD as it is the clear leader in its field to date.
About This Week’s Author
Matthew Caruso, CFA, CMT is a member of the CMT association, having previously served as the president of CMT Canada. As a professional investor and former market-maker, he boasts an impressive track record, including holding the 9-month record in the US Investing Championship. Matthew’s expertise extends to Caruso Insights, a dedicated service aimed at educating investors on constructing and refining high-growth investment strategies. To explore his insights further, visit Carusoinsights.com.
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Originally posted on May 23, 2024
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