Top 5 Consumer Stocks That You May Want To Dump In June
Portfolio Pulse from Lisa Levin
The article lists the top 5 overbought consumer stocks in June, including LL Flooring Holdings, Tile Shop Holdings, Dream Finders Homes, Tesla, and NeoGames. These stocks have high RSI values, indicating they may be overvalued and present an opportunity to go short.
June 01, 2023 | 11:37 am
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NEGATIVE IMPACT
Dream Finders Homes reported a 16% YoY increase in homebuilding revenues for Q1. The stock has a 52-week high of $18.63 and an RSI value of 72.16.
Despite positive revenue growth, Dream Finders Homes' high RSI value indicates potential overvaluation, presenting a short opportunity for investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
LL Flooring received a $5.76 per share proposal from Cabinets To Go, and its stock has a 52-week high of $12.52. The RSI value is 70.18.
LL Flooring's high RSI value indicates it may be overvalued, and the unsolicited proposal from Cabinets To Go could lead to short-term volatility. Investors may consider going short on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
NeoGames agreed to be acquired by Australia's Aristocrat Leisure Limited. The stock has a 52-week high of $27.77 and an RSI value of 82.61.
NeoGames' high RSI value and acquisition agreement with Aristocrat Leisure suggest potential overvaluation and short-term volatility. Investors may consider going short on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tesla plans to showcase its revamped Model 3 sedan during Elon Musk's visit to the Shanghai factory. The stock has a 52-week high of $314.67 and an RSI value of 72.97.
Tesla's high RSI value suggests potential overvaluation, and the upcoming Model 3 showcase could lead to short-term volatility. Investors may consider going short on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tile Shop posted downbeat earnings for Q1, with flat sales compared to last year. The stock has a 52-week high of $5.97 and an RSI value of 74.09.
Tile Shop's high RSI value and downbeat earnings report suggest the stock may be overvalued, presenting a potential short opportunity for investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100