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OVERALL MARKET
Consumer Sentiment report confirms inflation worries are widespread, as the market ends the day in the red.
All of the stock market indices ended the day and the week in the red.
A report covering consumer sentiment was released today by the University of Michigan. The results surely affected the indices today, as it was apparent inflation fears had not gone away. According to the report, consumers are expecting prices to increase by 4.8% in the next year. Economists’ expectations were quite off as well. The consumer sentiment index was down 5 points to 80.5, while they expected to see an increase. With the Fed insisting on the short-term nature of the inflation rate, investors seem skeptical about the future. GET THE DAILY MARKET RECAP
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Zynex Inc (ZYXI) shares rise 10.66% today after impressive sales growth.
Zynex Inc. (ZYXI) stood out to me today on the winner’s list of stocks on our site. Zynex manufactures and sells medical devices to treat pain with modern electromagnetic technology. We have talked about this stock in the past because of its strong operations and growth potential despite the difficulties of selling its devices during the pandemic.
Contrary to the pandemic year, today’s share price rose 10.66% by the close! This price jump follows a press release from the CEO about year-over-year orders increasing by 246% this quarter. Also, the company is revising its estimated EBITDA, otherwise known as Earnings Before Interest, Taxes, Depreciation, and Amortization, to reflect the good numbers so far. I opened Zynex’s Stock Card to dig a little deeper. The company has an impressive rating for growth potential, as well as sales growth and profitability. The company is also rated highly for shareholders’ return on investment. Not only have previous investors got their money’s worth, but all signs are pointing to a great future in the medical technology sector for Zynex and its portfolio of products. Even with today's stock price jump, the stock is lower than the estimated fair share price using the historical price to sales ratio and the average analyst's price target. You can see that on its Stock Card's fair share price section. Lastly, Zynex benefits from the growing market for electrical stimulation devices. Society is becoming more aware of the adverse effects of painkillers, including opioid addiction. In a way, Zynex is on the right side of the industry. The stock is a part of Stock Card's Risk-Taker portfolio, and I believe it is still a good time to invest in this company. WHAT'S DOWN?
Beyond Meat (BYND) stock falls from $157 to $124 halfway through the month. Is this a buying opportunity?
Beyond Meat (BYND) is one of the standout brands in the world of meat alternatives. We've discussed this a few times. The last time stock hovered around $100, I hesitated to invest in it, and later on, I regretted not buying. That's why when I noticed the "negative sentiment" update on its Stock Card, I had to dig deeper.
Beyond Meat started July trading at roughly $157 but since then, it has fallen almost daily, closing today at $124. Recent headlines might make you assume otherwise, with the company’s new fake chicken tenders appearing nationwide. What you aren’t seeing is that consumer food brands across the country are expecting to raise prices to keep up with inflation. Restaurants may be opening back up, but labor shortages are dampening profits. Likewise, transportation costs are rising rapidly, and Beyond Meat is now struggling with its margins. The 2021 first-quarter earnings report shows that the company’s EBITDA was a net loss of $10.8 million this year, compared with last year’s first-quarter EBITDA profit of $13.9 million. It's also not lost on the investors that Beyond Meat is up against giant competitors like ConAgra (CAG), Kellogg (K), and Tyson Foods (TSN), who are all in the meat alternatives market too. Some partners, such as Dunkin', may have started discontinuing some of Beyond Meat’s menu items to add insult to injury. When you look at the overall situation, the Pessimistic Investors sentiment on the BYND Stock Card is beginning to make sense. I'm watching the downward trend closely. This can be a good fit for the Future of Food portfolio on Stock Card, thanks to the negative sentiment. Featured Collection: Plant-Based Stocks
Which companies are part of plant-based stocks to buy?
Talking about Beyond Meat reminded me of the Plant-Based Products collection on Stock Card. As you know, we simplify your investment research by giving you access to a well-researched and curated list of stocks around important themes. Plant-Based products are one of those important themes. Type in “Plant-based” on the search bar and see all the plant-based stock lists you need.
Better yet, go to the Screener page, start a new filter, type in “plant-based” in the search bar of your screener page, and add some other criteria such as no cash concerns to get closer to the list of plant-based stocks you might want to buy now. WANT TO RECIEVE THIS DAILY STOCK MARKET RECAP IN YOUR MAILBOX?Comments are closed.
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