Top 4 Consumer Stocks That Could Blast Off This Quarter
Portfolio Pulse from Lisa Levin
The article lists four consumer stocks that are currently oversold and could potentially rise this quarter. These include Sacks Parente Golf, Inc. (SPGC), Cheetah Net Supply Chain Service Inc. (CTNT), MGO Global, Inc. (MGOL), and Digital Brands Group, Inc. (DBGI). All four companies have a Relative Strength Index (RSI) below 30, indicating they are oversold. The companies have recently reported various business developments, including narrower losses, sales declines, new team members, and private placements.
October 30, 2023 | 11:29 am
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NEUTRAL IMPACT
Cheetah Net Supply Chain reported a YoY decline in Q2 sales but expanded its gross profit margin. Its stock fell 12.8% to close at $1.02 on Friday.
Despite the sales decline, the company's expanded gross profit margin could offset investor concerns, leading to a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Digital Brands Group reported the closing of a $5.0 million private placement. Its stock fell 7.9% to close at $3.87 on Friday.
The successful closing of a significant private placement could attract investor interest, potentially driving the stock price up.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
MGO Global welcomed marketing veteran Jeff Lerner to its team. Its stock fell 8.9% to close at $0.4463 on Friday.
The addition of a marketing veteran to the team could boost investor confidence in the company's future strategies, potentially driving the stock price up.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 100
POSITIVE IMPACT
Sacks Parente Golf reported a narrower loss for Q2 and plans to expand product offerings. Its stock fell 6% to close at $0.78 on Friday.
The company's narrower loss and plans for product expansion could attract investors, potentially driving the stock price up.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100