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Sunday Watchlist

Week of January 20, 2020

Markets are still racing to higher highs.

Over the last week, the Dow Jones hit a new all-time high of 29,000, with its sights set on 30,000.  All after phase one of the U.S. China trade deal was signed.  

Under the terms of the deal, China will substantially increase its purchases of U.S. agricultural products, pledge not to devalue its currency, and help to better protect U.S. intellectual property.  In fact, according to a U.S. Trade Representative document, the deal includes a “dramatic expansion of U.S. food, agriculture and seafood product exports, increasing American farm and fishery income, generating more rural economic activity, and promoting job growth.”

Prior to this agreement, the Trump Administration canceled new tariffs on $156 billion worth of Chinese imports that were set to take effect Dec. 15.  The President also agreed to cut in half the current 15% tariffs on nearly $120 billion worth of Chinese goods. The two countries are now reportedly working on a phase-two deal that could remove all tariffs.

As we wait to see what happens next, here are the top stocks piquing our interest.

Opportunity No. 1

Activision Blizzard (ATVI)

After a rough outing in the latter part of 2018, ATVI is quickly recovering, especially as we near the launch of new gaming consoles from Microsoft and Sony in December 2020. SunTrust Robinson Humphrey currently has a buy rating on ATVI thanks to recent game releases, such as World of Warcraft and Call of Duty.

Both the ATVI stock and the ATVI May 15, 2020 62.50 calls (with a delta of 0.3724) are attractive at current market prices.

Opportunity No. 2

Micron Technology (MU)

Micron Technology is still racing to higher highs on the 5G boom.  Analysts at Cowen have a $70 price target on the stock. Analysts at Rosenblatt have a target of $100.  Both the MU stock and the MU March 20 2020 57.50 calls (with a delta of 0.5621) are attractive opportunities.

Opportunity No. 3

OrganiGram Holdings (OGI)

OrganiGram is showing signs of life thanks to cannabis.  

Net revenue ran to C$25.2 million ($19.3 million) from C$12.4 million year over year, beating estimates for C$21 million. “Our team was also successful in shipping the first of our Rec 2.0 products as planned and on schedule in December of 2019,” Organigram CEO Greg Engel said, as quoted by MarketWatch. “We also look forward to the launch of the remainder of our vape pen portfolio followed soon after by our premium cannabis-infused chocolate products.”