Buy These 3 Stocks Before Earnings for Big Upside Potential?
Zacks Investment Research | Jun 08, 2021 04:38AM ET
On today’s episode of Full Court Finance at Zacks we explore the market as the bulls try to look beyond inflation worries. The episode then dives into RH (NYSE:RH) PLAY before they report their quarterly financial results to see if investors should consider buying any of these stocks.
The S&P 500 ended last week right below its all-time highs and the Nasdaq popped around 1.5%, as bullish investors keep pushing the tech-heavy index back above its 50-day moving average. The Nasdaq continued its climb to start the week of June 7, as Wall Street appears pleased enough with May’s jobs data that showed signs of improvement, but might not force the Fed’s hand when it comes to pulling back on its easy-money policies.
The market has also seen so-called meme stocks roar back in the past week, including AMC Q2 2021 Earnings Season Preview ).
With this in mind, we break down three companies set to report their Q1 financial results this week, starting with the luxury furniture retailer formally known as Restoration Hardware. RH shares have pulled back by roughly 15% from their late-April records heading into its first quarter financial release on Wednesday. But the stock is on an epic run and its growth outlook remains strong as it continues to expand its high-end portfolio.
Chewy had soared over 300% from its March 2020 lows until Wall Street began dumping pandemic winners in February. The e-commerce pet store sits about 30% below its records ahead of its Thursday release and it has amassed millions of loyal pet owners at a time when Amazon TGT , and others dominate the broader digital shopping world.
The episode then ends with Dave & Buster's. PLAY shares surged despite the coronavirus crushing its in-person-heavy business. And the stock jumped nearly 10% through late afternoon trading Tuesday ahead of its Thursday results amid the great U.S. economic reopening.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple (NASDAQ:AAPL) sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
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