hot stocks to buy tomorrow

Are These The Best Stocks To Watch For A Trade Tomorrow?

Since the stock market crash in March due to the coronavirus, some of the top stocks to watch have rebounded strongly. The S&P 500 index has posted a 62% increase from the market bottom in March. In November the Dow is up more than 12%, and the S&P 500 is up more than 10%. This rally has come on the heels of positive COVID-19 vaccine news from both Pfizer’s (PFE Stock Report) and Moderna’s (MRNA Stock Report) reporting important phase 3 clinical trials showing positive results.

Pfizer and Moderna had reported their vaccines to have effectiveness rates of 90% and 95% respectively. This is key because it passes the FDA’s efficacy minimum of 50% for emergency authorization approval. Pfizer has reported they anticipate to start distributing its vaccine doses by Christmas. With stocks moving strongly and the market back into an uptrend, let’s take a look at 3 hot stocks for your watchlist tomorrow.

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Hot Stocks To Buy [Or Avoid] Tomorrow: Nio

First up on the list is Chinese electric vehicle maker Nio Inc. (NIO Stock Report). Nio has been one of the best performing EV stocks in the stock market this year. Shares of NIO stock are up an incredible 1152.41% year-to-date and it closed Tuesday’s trading session at $46.59 per share. Nio is a premium EV car maker that focuses on the SUV market.

The company announced its third-quarter earnings Tuesday after market close. The company beat third-quarter estimates and reported strong fourth-quarter guidance. NIO reported a loss of 12 cents per share from $667 million in sales. That resulted in a 146% increase in sales year-over-year. The expectation by Wall Street analysts was a loss of 19 cents per share and $663 million in sales. The company estimates that in the fourth quarter they will deliver between 16,500 and 17,000 electric vehicles. This news comes on the heels of the company recently announcing that in October they doubled its vehicle deliveries to a new monthly high.

“With another quarter of record-high deliveries in the third quarter of 2020, plus further improvements in average selling price, material cost, and manufacturing efficiency, our vehicle margin increased to 14.5%. Additionally, we achieved positive cash flow from operating activities for the second sequential quarter,” commented Steven Wei Feng, NIO’s Chief Financial Officer.

Investors will be paying close attention to how the market reacts tomorrow to the company’s third-quarter earnings report. If the market responds positively, could we see NIO continue its move higher? For these reasons, NIO is on my list of the hot stocks on my watchlist for tomorrow.

Hot Stocks To Buy [Or Avoid] Tomorrow: Palantir

Next on the list of top stocks to watch for tomorrow is Palantir Technologies (PLTR Stock Report). PLTR stock is up 69.35% in the month of November as the stock closed at $17.85 during Tuesday’s trading session. The company also notched in new all-time highs Tuesday hitting $18.75 a share. Palantir is a software company that specializes in big data analytics. The company has an impressive client list including Ferrari (RACE Stock Report), Airbus (AIR Stock Report), BP (BP Stock Report), and most notably the United States government.

In the company’s third-quarter earnings, Palantir reported revenue growth of 52%, at $289.4 million. The company has raised its full-year 2020 revenue guidance to a range of $1.070 billion to $1.072 billion. Also, the company has gotten new contracts in the third quarter with the U.S. Army ($91 million), National Institutes of Health ($36 million), and also was able to renew a $300 million contract with an aerospace company.

hot stocks to buy tomorrow (PLTR stock)

Aside from these strong earnings, Palantir has begun to attract the attention of notable hedge funds such as; George Soros’s Soros Fund Management, Steven Cohen’s Point72 Asset Management, and Anchorage Capital Group. All three of these hedge funds have disclosed they have invested in Palantir in the last week. Between the positive earnings and the positive sentiment on Wall Street, should Palantir be on your list of top stocks to watch for tomorrow?

[Read More] Are These The Best E-Commerce Stocks To Buy Ahead Of The Holiday Season? 3 Names For Your List

Hot Stocks To Buy [Or Avoid] Tomorrow: Boeing

The last company on the list is aerospace giant Boeing (BA stock Report). Boeing is the biggest aerospace company in the world and is an industry leader in manufacturing commercial jetliners, space, defense, and security systems. Airlines across the globe use Boeing’s jet airliners. The recent positive vaccine news from Pfizer and Moderna has sparked investors’ interest in BA stock again. Month-to-date BA stock has gained 41.35%. The stock notched in intraday highs during Tuesday’s trading session of $210.05 a share.

“Our diverse portfolio, including our government services, defense, and space programs, continues to provide some stability for us as we adapt and rebuild for the other side of the pandemic. We remain focused on the health and safety of our employees and their communities,” stated President and CEO Dave Calhoun.

stocks to buy tomorrow (BA Stock)

In the company’s third-quarter fiscal posted in October, Boeing had reported revenues of $14.1 billion. The coronavirus pandemic and the grounding of Boeing’s 737 MAX fleet had affected the company’s financial results. But with the recent positive vaccine developments, the entire airline industry and investors are excited to see some positive momentum back into the market. With that being said, is BA stock on your list of hot stocks to buy tomorrow?

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