Benzinga Pro's Top 5 Stocks To Watch For Tuesday, June 6, 2023: AAPL, DIS, COIN, GME, HOTH
Portfolio Pulse from Benzinga Newsdesk
Top 5 stocks to watch on June 6, 2023 include Apple, Disney, Coinbase, GameStop, and Hoth Therapeutics. Apple's WWDC presentation received mixed analyst reactions, Disney is undervalued according to Morgan Stanley, Coinbase faces an SEC lawsuit, GameStop prepares to report quarterly results, and Hoth Therapeutics' Alzheimer's treatment shows promising pre-clinical results.
June 06, 2023 | 1:08 pm
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NEGATIVE IMPACT
Coinbase shares dropped nearly 20% following news that the SEC has sued the company.
The SEC lawsuit against Coinbase is a significant negative development for the company, which could lead to further regulatory scrutiny and potential penalties, causing the stock price to decline in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
GameStop is set to report quarterly results on Wednesday, with analysts at Wedbush maintaining an Underperform rating on the stock ahead of the announcement.
The Underperform rating from Wedbush ahead of GameStop's earnings announcement could indicate that the market has low expectations for the company's performance, potentially leading to a decline in the stock price if the results disappoint.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Apple's WWDC presentation received mixed reactions from analysts, with some Wall Street analysts discussing the event on Benzinga's Stocks To Watch podcast.
The mixed reactions from analysts following Apple's WWDC presentation may not have a significant short-term impact on the stock price, as the market may need more time to digest the information and assess its implications.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Morgan Stanley analyst believes Disney's content is undervalued by investors and maintains a buy rating on the company's shares.
The positive outlook from Morgan Stanley on Disney's content valuation could lead to increased investor interest and potentially drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Hoth Therapeutics' stock price surged nearly 100% following favorable pre-clinical results for the company's Alzheimer's treatment.
The positive pre-clinical results for Hoth Therapeutics' Alzheimer's treatment are a significant development for the company, which could lead to increased investor interest and further stock price appreciation in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100