Are These The Best Epicenter Stocks To Buy In November 2020?
Fresh off the news of Moderna’s (MRNA Stock Report) vaccine results, epicenter stocks are on the rise. Yesterday, the company had reported overwhelming success when its vaccine candidate for the coronavirus had showed the effectiveness of 94.5%. This along with Pfizer’s (PFE Stock Report) positive vaccine results last week had spurred much-needed hope for the world. At the time of this writing, the coronavirus has claimed over 1.3 million lives, with more than 250,000 deaths in the U.S. alone.
With news of a vaccine being ready before the end of 2020, economies all around the world could be set for recovery in 2021. At the center of this would of course be top epicenter stocks. These stocks were hit badly at the onset of the pandemic. They have slugged through the recession and will stand to benefit from a recovering economy. These epicenter stocks could refer to automotive stocks like Ford Motor Company (F Stock Report). It could also be energy companies like ConocoPhillips (COP Stock Report).
Investors looking to make commendable gains as the economy reopens could consider epicenter stocks. As the world moves forward with renewed vigor and hope, investors could also be making moves with this type of stock. Epicenter stocks are still undervalued after all. The reason is that they have lost much of their market cap during the March lows. With all things considered, here are the top 3 epicenter stocks for you to watch this month.
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Top Epicenter Stocks To Buy: Lordstown Motors
Lordstown Motors (RIDE Stock Report) is a manufacturer of electric vehicles. The company is based in Ohio and previously belonged to General Motors (GM Stock Report). Lordstown Motors has been on the news lately ever since debuting on the Nasdaq Exchange. The company had recently completed a reverse merger with a special purpose acquisition company.
Lordstown is up by almost 70% since the end of October and closed at $22.55 a share on Monday. The company on Monday had announced that it had received 50,000 preorders for its Endurance pickup truck. You have got to say that’s pretty impressive for a startup that hasn’t actually delivered any vehicles yet. Lordstown Motors says it remains on track to begin production of the Endurance in September 2021. If successful, the Endurance will be the world’s first all-electric commercial pickup.
Lordstown promises a better overall value for its line of electrical pickups as compared to conventional pickups. With oil prices showing signs of recovery, the need for EVs like Lordstown’s Endurance is becoming more pronounced. In other news, the company has also begun construction of a 700,000 square foot battery pack and hub motor production facility. Upon completion, Lordstown Motors expects the facility to be the largest of its kind in the U.S. With that in mind, will you consider adding RIDE stock into your epicenter portfolio?
Top Epicenter Stocks To Buy: Lowe’s Companies Inc.
Home improvement retailer Lowe’s (LOW Stock Report) will announce its earnings tomorrow. This would give investors a look into how Lowe’s would perform for the holiday season. The company operates a chain of retail stores in the U.S. and Canada. As you would know, the retail industry was among the hardest hit by the pandemic this year. People staying at home meant traditional brick and mortar businesses would have fewer visitors. The company’s share price has increased by almost 5% in the past week and last closed at $161.90.
Lowe’s had managed to weather through the pandemic relatively well despite its peers not faring so well. In fact, the company had taken advantage of the surging interest in its category with sales outpacing rivals Home Depot (HD Stock Report) in the last two quarters. Home improvement activities are rising as more people were stuck at home. This trend will lift the company’s sales late into 2020.
In the company’s second-quarter fiscal posted in August, Lowe’s had reported an impressive revenue of $2.8 billion. This represented a 64% increase compared to a year earlier. This was well ahead of analysts’ estimates, which sent the share up higher. The company had also reported diluted earnings per share of $3.74 for its second quarter. It made a whopping $27.3 billion in sales and this represented a 35% increase in U.S. Comparable Sales. Should investors be keeping a close eye on LOW stock?
Top Epicenter Stocks To Buy: TJX Companies Inc.
Another retail company that has had a volatile year is TJX Companies (TJX Stock Report). TJX offers off-price apparel and home goods for its customers. There are over 4,500 discount stores in the TJX portfolio located across 9 countries. TJX shares traded at $61.09 per share on Monday’s closing. The shares are nearly back to where they were at the start of the year. The company will also be announcing its third-quarter financial results tomorrow.
This epicenter stock had its business severely affected by the pandemic. Because it has a smaller e-commerce platform compared to the likes of Target (TGT Stock Report), the company lagged behind its more successful peers. However, in its latest quarter fiscal, the company had generated sales of $6.7 billion. This had exceeded TJX’s internal plans for both top and bottom lines. The company had reopened its stores worldwide and had also reinvigorated its online shopping websites.
To adapt to the pandemic, the company has put in place practices to help protect the health and well-being of its customers. This includes social distancing protocol, access to personal protective equipment, and enhanced occupancy limits. What can investors expect when the company announces its third-quarter fiscal results tomorrow? Consumers will normally have an affinity for its collection of off-price merchandise through past recessions. This is because TJX normally sells products that are 20% to 60% cheaper than normal retail prices. The company also collaborates with over 21,000 vendors in more than 100 countries. With all these developments going on, would you be putting TJX stocks on your watchlist?