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Last week, Direxion launched a new ETF to focus on the so-called Work-From-Home (WFH) stocks. The ETF is very new in its debut and includes all the usual WFH suspects. As is customary around Stock Card, we took a look at the fund's holdings and went straight to the not-so-well-knows stocks on the list. Many times those unknown stocks end up being the talk of the town in a few weeks, and we get to research hem a little sooner than others.
The majority of WFH stocks have gone through rapid and upward stock price movements since the start fo the COVID-19 pandemic. However, one company on the Direxion EFH ETF hasn't followed that trend, quit curiously. Does that mean there is an opportunity to pick up a WFH stock at a somewhat undervalued price range? Based on the financial analysts' average price target of $20 per share, that can be the case. Let's dig a little bit more.
Meet 8X8 (EGHT)
The one Work-From-Home stock to watch
While researching the stock, we learned about the company's recent transition to Oracle (ORCL) cloud infrastructure. The surge in video communication needs and petabytes of data transfer forced 8X8 to transition Oracle. Interesting, Zoom (ZM), the pinnacle of the WFH stocks, also runs its infrastructure on Oracle's cloud infrastructure.
We started this blog post with 8X8 in mind, but we end it with Oracle as a new addition to our watchlist. It may not be unfair to say that the WFH era is run on Oracle's shoulders. Make sure to check out Oracle's Stock Card, and while you are at it, look at 8X8 and Zoom's Stock Card's too.
One of the best ways to invest in Work-From-Home (WFH) stocks is to go slow and small and avoid taking too much risk. Here are our top three brokerages that allow you to invest with a small amount of money:
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November 2023
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