Top 2 Tech And Telecom Stocks You May Want To Dump This Quarter
Portfolio Pulse from Avi Kapoor
As of June 18, 2024, AST SpaceMobile Inc (ASTS) and Magnite Inc (MGNI) are considered overbought based on their RSI values. ASTS recently announced a partnership with Verizon Communications Inc (VZ), leading to a significant stock price increase. MGNI was upgraded by B of A Securities, also resulting in a stock price rise.
June 18, 2024 | 12:11 pm
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NEUTRAL IMPACT
Verizon's partnership with AST SpaceMobile aims for 100% coverage of the continental US. This partnership is a significant milestone for AST SpaceMobile.
While the partnership is significant for AST SpaceMobile, the direct impact on Verizon's stock price is less clear. The news is more relevant to ASTS.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
AST SpaceMobile's stock has surged due to a new partnership with Verizon, aiming for 100% coverage of the continental US. The stock is currently overbought with an RSI of 85.26.
The high RSI value indicates that ASTS is overbought, suggesting a potential price correction. The recent partnership with Verizon has already been priced in, leading to a significant stock price increase.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Magnite's stock has risen due to an upgrade by B of A Securities. The stock is currently overbought with an RSI of 70.
The high RSI value indicates that MGNI is overbought, suggesting a potential price correction. The upgrade by B of A Securities has already driven the stock price up.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100