While the rest of us are toiling day and night to make ends meet, some people like GameStop’s largest shareholder, Ryan Cohen, are increasing their net worth by $4 million per hour. Cohen’s net worth has gone up by $90 million per day in the last few weeks when GameStop’s stock has skyrocketed by over 1,550%. Another shareholder, Donald Foss, who had the foresight to buy 5% of its shares for $12 million, has seen his stock’s worth rise to $500 million. Of course, anyone who has witnessed the stock’s meteoric rise since last year must be wondering which other companies are great to invest in currently. Let’s take a look at the top stocks that might pique your interest.
In the stock market, some trust in the power of social media. According to CNN, it is not just GameStop that has seen the stock spike so fast that it is shocking. Even AMC has been caught up in the hype. Those who believe that streaming is not the same as walking into a theater with popcorns and watch a film have vowed not to see it go down without a fight. They posted on Twitter that they would save AMC and they stuck to their word. AMC was headed for bankruptcy, but Reddit users came to its rescue with the share price rising by more than 200%. Like people bought GameStop stock resulting in the share value going up significantly, AMC experienced the same. Consequently, the $600 million debt was settled when holders of convertible bonds converted them at $13.51 per share. The survival of AMC was guaranteed, and although hopes are that it should last for decades, it is still speculated that it could be a bubble that can burst anytime.
You never know the value of something until you no longer have it and that is what happened to Lowe’s. We took it for granted that we could walk into any of the stores and buy some products. However, the coronavirus has taught us the value of appreciating every minute we have. Most people decided to take on home improvement projects to use the time on their hands due to the lockdown. As a result, besides relying on walk-in customers, Lowe’s online sales went up significantly. According to Forbes, sales increased by 11.2 %. By June 2020, the stock had doubled, and it was predicted that it was only a short-term hike. Wall Street investors mostly recommend buying the Lowe’s shares, and even if it is the main competitor of Home Depot, they insist that Lowe’s is a better buy for now. After all, people are still stuck at home, and those projects they have been putting off for so long will continue to grow, making it a profitable company.
Although GameStop’s stock rose in a way that remains hard to comprehend, the biggest gainer from the Redditors’ hype has to be Nokia. As per the article, although the surge in GameStop stock could drop anytime and not have any real effects on the economy, if Nokia share price hiked, it could have drastic consequences. The reasoning is that Nokia is among the leading global players in the European market’s telecom industry. It has been competing with Huawei and Ericson. However, Huawei is reportedly being pushed out of the market due to security concerns. The company issued a statement saying it cannot explain the 70% surge it was experiencing. It had reason to be worried because barely a week after the unexplained surge, the share price plummeted from $9.79 to $6.55. The rise had resulted in the company joining GameStop and AMC, but they both have experienced the same fate.
Cancer cases are on the rise, with ten million people dying every year from the disease. In the US, the chances of women and men getting cancer in their lifetime are 50% and 33% respectively. With such a high possibility, any company that develops oncology treatments stands to rake in lots of profits. InflaRx has been at the forefront in the development of anti-C5a antibody named vilobelimab. On January 11, 2021, the company announced that it plans to carry out a study to evaluate how vilobelimab in combination with another drug could affect patients with squamous cell carcinoma. As a result, InflaRx has been getting many buy recommendations but never a consensus. Regardless, the future seems very promising with a target price of $15 from the current average of $10.50. It could behave like GameStop by surging 161% in 2022 before going up further by 273% in the following year.
The thing about stocks is that you are never guaranteed about their performance yet those who have become good at making predictions have made a killing solely from stock trading. With ADMA Biologics, the current recommendation is that you should buy and there are no sell and hold recommendations. However, you should note that since the COVID-19 pandemic began the shares have decreased by 2.2%. In March 2020, they were trading at $2.31, but they have gone down to $2.26. This should not discourage you from buying the shares. According to Yahoo News, COVID-19 has helped the company realize its potential. The company estimates that by 2025, it will have established between 5 and 10 plasma centers. The third center could be up and running by April 2021, and if all the others go according to plan, the company shares could see a rise of 260% to reach a target price of $7. By 2022, the prediction is that the stock will rise by 242%.
What’s Their Fate?
The sudden increase makes it seem that the GameStop stock was overvalued and it resulted in a class-action suit after the new acquisition of the stock was stopped. The stoppage further led to the stock decreasing from almost $500 to $150 before going up and down again. If these stocks are to suffer the same fate as GameStop, holding onto them could be for immediate wealth, not for future investment since they are bound to decline.