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AMC

CVNA

GME

Carvana Co. (NYSE:CVNA) stock is trading higher by over 9% with no company-specific news, part of a broader movement in 'meme stocks' like GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC). Despite the rise, Morgan Stanley analyst Adam Jonas has maintained an Underweight rating on Carvana and lowered the price target from $37 to $32. Carvana has a high short interest of 41.33% and is trading below its 50-day moving average and well below its 52-week high.

Portfolio Pulse from Erica Kollmann

November 29, 2023 | 3:32 pm

CRWD

ETSY

MSFT

PLTR

Palantir Technologies, Inc. (NYSE:PLTR) stock is trading higher, having gained over 34% in the past month. The company's shares reached a new 52-week high following increased interest in the AI sector, influenced by developments involving OpenAI and Microsoft Corporation (NASDAQ:MSFT). Gene Munster of Deepwater Asset Management highlighted Palantir as undervalued on CNBC's "Squawk Box" and mentioned its potential for significant upside, along with CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and Etsy, Inc. (NASDAQ:ETSY). Palantir's stock is currently trading above its 50-day moving average and just below its 52-week high.

Portfolio Pulse from Erica Kollmann

November 29, 2023 | 3:31 pm

SCHW

Over the past 20 years, Charles Schwab (NYSE:SCHW) has produced an average annual return of 8.6%, outperforming the market by 1.1% annually. A $100 investment in SCHW stock 20 years ago would be worth $524.98 today. The company's current market capitalization stands at $102.43 billion.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 3:30 pm

USO

Gasoline inventories have significantly exceeded expectations, reporting 1.764 million compared to the estimated 229 thousand. This suggests a potential surplus of gasoline supply.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 3:30 pm

Zhihu Inc (NYSE:ZH) reported Q3 FY23 revenue of $140.1 million, a 12.1% increase Y/Y but below the consensus of $143.6 million, leading to a stock price decline. Adjusted loss per ADS was $(0.05), better than the expected $(0.06). Marketing services revenue fell 17.1% Y/Y, while paid membership and vocational training revenues grew significantly. MAUs and monthly paying members increased. Gross margin decreased due to monetization efforts and cloud services. The company has $775 million in cash and equivalents. ZH shares dropped 1% to $1.01.

Portfolio Pulse from Anusuya Lahiri

November 29, 2023 | 3:30 pm

YUM

Yum Brands (NYSE:YUM) has seen a 13.97% increase in short interest since its last report, with 4.34 million shares sold short, representing 1.55% of its float. It would take about 2.85 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Yum Brands has less short interest compared to its peer group average of 9.42%. The rise in short interest doesn't necessarily predict a stock price fall.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 3:30 pm

MUFG

Mitsubishi UFJ Financial Group's (NYSE:MUFG) short interest has increased by 25% since the last report, with 6 million shares sold short, representing 0.05% of available shares. It would take about 1.63 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. MUFG's short interest is below its peer group average of 0.88%.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 3:30 pm

GFS

GLOBALFOUNDRIES (NYSE:GFS) has experienced a 10.18% decrease in short interest since its last report, with 11.74 million shares sold short, representing 14.03% of its float. The average time to cover these short positions is 5.64 days. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. However, this does not necessarily predict a near-term rise in the stock price. Compared to its peers, GFS has a higher short interest as a percentage of float, which is 3.15% on average.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 3:30 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo provides daily trade strategies for SPY, QQQ, AAPL, MSFT, TSLA, GOOGL, NVDA, and META based on a proprietary formula considering price, volume, and options flow. The memo outlines potential support and resistance levels for each asset and advises traders to be prepared for breakouts or reversals. The release of PCE and GDP data in the premarket session is expected to influence the market. The memo is part of a service offered by Market Clubhouse, which includes a live daily market analysis and real-time mentorship by a professional trader known as RIPS.

Portfolio Pulse from RIPS

November 29, 2023 | 3:29 pm

Ford Motor Co (NASDAQ:F) stock is trading higher, likely influenced by General Motors Co (NYSE:GM) reinstating its 2023 guidance, increasing its dividend, and announcing a $10 billion accelerated share repurchase program. GM's positive outlook and shareholder return plans come after resolving labor disruptions from a UAW strike. GM expects full-year 2023 earnings of $6.52 to $7.02 per share and adjusted earnings of $7.20 to $7.70 per share, including an estimated $1.1 billion impact from the strikes. GM's adjusted automotive free cash flow forecast is also raised to $10.5 billion to $11.5 billion. GM's stock rose over 11%, while Ford's shares increased by 4.48% to $10.83.

Portfolio Pulse from Adam Eckert

November 29, 2023 | 3:28 pm