Stock Hotlist: Top Picks to Watch Now

Picking the wrong stocks can decimate your portfolio.

They’re pure portfolio poison.  

But the right stocks…

If you pick the right stocks, you could find yourself jumping for joy on top of an enormous pile of cash.

With over 4000 tickers to choose from, finding the right at the right time can prove to be nearly impossible… 

Unless you’re spending hours each day combing the markets and researching companies.  

That’s why we’ve done the legwork for you.  

We sort through thousands of stock ideas and whittle them down to a few top choices primed for solid price action in the coming days, weeks, and months.  

This week, we’ve narrowed it down to three stocks that could be getting significant attention in the near future.

Roblox (RBLX)

As a leader in the burgeoning metaverse industry, Roblox has garnered a substantial following, evident in its impressive first-quarter revenues of $655.3 million, marking a 22% year-over-year growth. However, this growth didn’t come without a price, as the company reported a net loss of $268.3 million for the same period.

Creating a platform for creators comes with a significant cost, as evidenced by Roblox’s financial performance. A crucial metric for the company is bookings, representing virtual currency utilized for on-platform purchases. In Q1, bookings recorded a noteworthy 23% growth.

The company’s platform empowers users to create a staggering 40 million games, each functioning as its own virtual world. Notably, Roblox also boasts numerous virtual reality (VR) games, including popular titles showcased on TheGamer platform. Roblox holds a prominent position in the flourishing metaverse sector, showcasing remarkable growth in revenues and user engagement. However, the expenses tied to its creator platform underscore the challenges and investments associated with staying at the forefront of this exciting digital frontier.

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General Motors (GM)

Amidst the challenges in the auto industry, astute investors might find hidden,  long-term gems among cheap stocks. General Motors boasts a portfolio of iconic car brands, ranging from Chevrolet to Cadillac. However, macroeconomic headwinds and the rising momentum of electric vehicles (EVs) have somewhat dimmed the company’s appeal.

Yet, GM could prove to be a surprise contender in the EV race. With a goal to offer EVs exclusively by 2035, it has emerged as the second-largest EV provider in the US. Although the company carries significant debts, its growth ambitions and strong free cash flow position provide hope for a positive outcome.

GM also presents a contrarian play within the automaker landscape. While many investors anticipate a global economic slowdown that might deter consumers from big purchases like new cars, there are contrasting views suggesting a softer-than-expected landing. Such an outcome could uplift auto stocks, including GM, presenting an opportunity for discerning investors.

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MercadoLibre (MELI)

Lastly, we’re diving into the phenomenal success story of MercadoLibre, the undisputed titan in South America’s online retail arena. With a presence in 18 different countries and dominating market share in places like Brazil, this e-commerce powerhouse has outpaced even the likes of Amazon in the region.

Over the past decade, MercadoLibre’s growth trajectory has been nothing short of awe-inspiring. And guess what? The pandemic-led tailwinds only fueled the fire, accelerating e-commerce adoption and solidifying its position as a major player in South America’s bustling digital economy.

Let’s talk numbers, shall we? Brace yourself for astonishing records! With a jaw-dropping 5-year average revenue growth of over 56% and forward revenue estimates surpassing 30%, MercadoLibre is on a rocket ride. Their operating cash flow growth is soaring over 30% year-over-year, a staggering 4,500% higher than the sector median.

Just when you thought it couldn’t get any better, MercadoLibre’s recent second-quarter performance wowed us all. With GAAP earnings per share of $5.16, they crushed estimates by a whopping 88 cents. And their revenue soared to $3.42 billion, a solid 32.0% year-over-year increase, outpacing forecasts by a cool $150 million. Oh, and let’s not forget their Total Payment Volume, which reached an impressive $42.1 billion, marking a phenomenal 96.6% year-over-year growth on an FX-neutral basis.

MercadoLibre is a force to be reckoned with, and its growth story is far from over. So, if you’re on the lookout for a powerhouse stock with immense potential, look no further.

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