Internewscast
Image default
Home » Top Stocks To Short Today As Unemployment And GDP Data Impresses
Finance Insurance

Top Stocks To Short Today As Unemployment And GDP Data Impresses

The market witnessed its worst sell off since June yesterday and has seen a sharp downturn this week. In fact, the Dow is down more than 6% this week and the S&P 500 is down by more than 5%. This is on pace to be their worst weeks since March. Stocks today however were set to recover some losses. The Dow was down 16 points, or .06%, while the S&P rose .24%, and the Nasdaq gained .67%. Investors cheered the latest GDP data which showed growth of 33.1% in the 3rd quarter compared to the 32% estimate. Jobless claims also came in at their lowest levels since March at 751,000. Tech also spurred the market rally today as Apple, Amazon, Alphabet and Facebook are set to report earnings. Gains, however, were fairly capped as investors continued to wrestle with pre-election anxiety, all-time high COVID numbers and further shutdowns, and zero stimulus on the horizon. Although earnings have been strong, France and Germany yesterday became the latest countries to re-impose partial lockdowns/stay-at-home orders. Volatility also surged with the CBOE Volatility Index (VIX) hitting its highest level since June. Until there is some sort of clarity with the US election, COVID, and stimulus, this level of volatility is expected to remain elevated. Despite the signs of trouble, the deep learning algorithms at Q.ai have crunched the data to give you a set of Top Shorts. Our Artificial Intelligence (“AI”) systems assessed each firm on parameters of Technicals, Growth, Low Volatility Momentum, and Quality Value to find the best short plays.

Sign up for the free Forbes AI Investor newsletter here to join an exclusive AI investing community and get premium investing ideas before markets open.

Cinemark Holdings Inc (CNK)

Our first Top Short is a part of the much maligned movie theatre industry- Cinemark Holdings. The Texas headquartered Cinemark, which owns and operates movie theaters across the US and Taiwan, has been rated F in Technicals, F in Growth, D in Low Volatility Momentum, and D in Quality Value by our AI systems. The stock closed down 2.49% to $8.24 on volume of 6,520,123 vs its 10-day price average of $8.54 and its 22-day price average of $8.75, and is down 75.81% for the year. Revenue was $3283.1M in the last fiscal year compared to $2991.55M three years ago, Operating Income was $407.4M in the last fiscal year compared to $430.18M three years ago, EPS was $1.63 in the last fiscal year compared to $2.26 three years ago, and ROE was 13.57% in the last year compared to 19.86% three years ago. Forward 12M Revenue is also expected to grow by 37.08% over the next 12 months.

Recommended For You

MORE FROM FORBESCinemark Holdings (CNK)

Goodyear Tire & Rubber Co (GT)

Goodyear Tire & Rubber Co is back on our list today as our second Top Short of the day. The Ohio based Goodyear has been one of the largest tire manufacturers in the world since 1898. Our AI systems rated Goodyear C in Technicals, F in Growth, F in Low Volatility Momentum, and F in Quality Value. The stock closed down 4.6% to $9.53 on volume of 3,930,311 vs its 10-day price average of $10.04 and its 22-day price average of $9.44, and is down 37.26% for the year. Revenue was $14745.0M in the last fiscal year compared to $15377.0M three years ago Operating Income was $703.0M in the last fiscal year compared to $1393.0M three years ago, EPS was $(1.33) in the last fiscal year compared to $1.37 three years ago, and ROE was (6.18%) in the last year compared to 7.62% three years ago. Forward 12M Revenue is expected to grow by 6.28% over the next 12 months, and the stock is trading with a Forward 12M P/E of 74.11.

MORE FROM FORBESGoodyear (GT)

Norwegian Cruise Line Hldgs (NCLH)

Our third Top Short of the day is Norwegian Cruise Lines. Norwegian is the third-largest cruise line operator in the world, and as of 2018, is responsible for about 8.7% of worldwide market share. However, nobody knows when operations will return to normal. Our AI systems rated Norwegian C in Technicals, F in Growth, D in Low Volatility Momentum, and F in Quality Value. The stock closed down 9.07% to $15.03 on volume of 26,390,230 vs its 10-day price average of $16.72 and its 22-day price average of $17.08, and is down 74.45% for the year. Revenue was $6462.38M in the last fiscal year compared to $5396.18M three years ago, Operating Income was $1184.21M in the last fiscal year compared to $1048.82M three years ago, EPS was $4.3 in the last fiscal year compared to $3.31 three years ago, and ROE was 14.91% in the last year compared to 14.77% three years ago.

MORE FROM FORBESNorwegian Cruise Line Holdings (NCLH)

Sabre Corp (SABR)

Our fourth Top Short of the day is Sabre Corp. Sabre, which was initially founded by American Airlines in 1960, is the largest global distribution systems provider for air bookings in North America. Our AI systems rated Sabre C in Technicals, F in Growth, D in Low Volatility Momentum, and F in Quality Value. The stock closed down 3.4% to $6.25 on volume of 8,023,362 vs its 10-day price average of $6.75 and its 22-day price average of $6.75, and is down 71.53% for the year. Revenue was $3974.99M in the last fiscal year compared to $3598.48M three years ago, Operating Income was $379.88M in the last fiscal year compared to $563.02M three years ago, EPS was $0.57 in the last fiscal year compared to $0.87 three years ago, and ROE was 17.1% in the last year compared to 37.7% three years ago. Forward 12M Revenue is also expected to grow by 29.05% over the next 12 months.

MORE FROM FORBESSabre (SABR)

WPX Energy Inc (WPX)

Our final Top Short of the day is WPX Energy. The Oklahoma based company is focused on hydrocarbon exploration and natural gas. Our AI systems rated WPX C in Technicals, F in Growth, D in Low Volatility Momentum, and C in Quality Value. The stock closed down 7.22% to $4.11 on volume of 6,901,630 vs its 10-day price average of $4.54 and its 22-day price average of $4.8, and is down 70.02% for the year. Revenue grew by 101.44% over the last three fiscal years, while Operating Income grew by 158.43% in the last fiscal year and grew by -780.95% over the last three fiscal years. Revenue was $2445.0M in the last fiscal year compared to $1042.0M three years ago, Operating Income was $166.0M in the last fiscal year compared to $(63.0)M three years ago, EPS was $0.61 in the last fiscal year compared to $(0.08) three years ago, and ROE was 5.85% in the last year compared to 0.63% three years ago. The stock is also trading with a Forward 12M P/E of 52.83.

MORE FROM FORBESWPX Energy, Inc. (WPX)

Liked what you read? Sign up for our free Forbes AI Investor Newsletter here to get AI driven investing ideas weekly. For a limited time, subscribers can join an exclusive slack group to get these ideas before markets open.

Source: Forbes – Money

Related posts

SEC Whistleblowers Say 401ks And Pensions Cheated Out Of Billions In Mutual Fund Payments

InterNewsCast

Mexican Billionaire Reveals Government Fears Sparked His Shock Bitcoin Investment

InterNewsCast

Economy’s Outlook ‘Highly Uncertain Over Next Five Years’: Fitch Ratings

InterNewsCast

Leave a Comment