Purchase Disney, Coinbase forward of earnings this week, merchants say

Coinbases This week’s earnings report could be crucial to the stock, says a trader.

Although the shares of the cryptocurrency trading platform have fallen from their market price, “that negativity has been washed away,” Blue Line Capital founder and president Bill Baruch told CNBC “Trading nation” on Friday.

“I think their user growth will exceed the verified users of 60 million, and I think that will be some kind of benchmark that they will continue to feed on. They are also paid for with the trading activity. I think that’s it will pick up “even if like large crypto assets Bitcoin or ether Fight, he said.

That bodes well for Coinbase’s second-quarter report scheduled for Tuesday afternoon, said Baruch, who owns Bitcoin and Ethereum.

“There’s good trendline support it’s coming off and it’s broken out of a resistance wedge,” he said. “I think this thing can go up to 290-300 and I think the revenue should be positive and the forecast should be good.”

Coinbase shares ended Friday at $ 258.26, up about 1%. They rose another 3.8% to $ 268 in Monday’s pre-trading session. A rise to $ 290 or $ 300 would be a 12-16% increase from Friday’s closing price.

Disney’s The earnings report for the third quarter should also be noted, said Gina Sanchez, founder and CEO of Chantico Global, in the same interview.

“This is a company that has made an all-time home run with Disney +, especially during the pandemic, but which has been completely overshadowed by the $ 4.5 billion loss in revenue it suffered from the closure of the parks and their studios” , said Sanchez, also chief market strategist at Lido Advisors.

“But look … this is coming back,” said Sanchez. “They’ll get that park revenue back, and in the meantime, Disney + is a much more lucrative way for Disney to bring new content to market so they can keep more of it.”

Disney is due to report on Thursday afternoon. The stock closed less than half of 1% higher on Friday, but lost some of its momentum in pre-market trading on Monday.

Disclosure: Baruch owns Bitcoin and Ethereum. Lido Advisors owns shares of Disney.

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Mattress Bathtub and Past will get uncommon purchase ranking, however 2 merchants would not chunk

Bed bath and beyond can be out of reach.

Although the retailer received a rare buy rating this week from B. Riley, who initiated the name with a price target of $ 44 and an upbeat argument for its new management and cost-cutting strategies, the stock doesn’t look particularly attractive at its current levels, two said Dealer to CNBC “Trading nation” on Thursday.

The $ 3.5 billion company Profit and sales growth forecasts looks maybe better than those of its industry peers, but still lags behind the broader market, said Gina Sanchez, founder and CEO of Chantico Global, in an interview on Thursday.

“It’s really hard to get upset,” she said. “We think they’re the right price and that’s not necessarily a screaming buy.”

Bed Bath and Beyond has already risen 78% since the beginning of the year and is trading at a multiple of almost 20.5 times the forward price / earnings ratio.

The history of the stock as a Reddit favorite is also doing investors a disservice, Sanchez said.

“Once that momentum takes hold in the market, you’re pretty late because these momentum trades on some of these meme stocks have nothing to do with fundamentals,” she said. “If you buy it just for the momentum, that’s the worst reason to buy because you will inevitably be the bigger fool in this story.”

One possibility that could develop has to do with Bed Bath and Beyond’s brief interest, said Matt Maley, chief marketing strategist at Miller Tabak, in the same “Trading Nation” interview.

Both times this year the stock got swept up in Reddit trading – first when GameStop rallied in January and again when AMC skyrocketed in June – it had remarkably high short interest, Maley said.

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“Now it’s down again. If anything, it’s got incredibly low short interest, not a high one. So people have to be very, very careful,” warned Maley. “If we … get another short squeeze, Bed Bath and Beyond won’t be one of the stocks being squeezed like that.”

While the company’s recovery history may sound promising, it will likely take time for the stock to reflect, the strategist said.

“They’ve made some good changes and their revenue has been pretty good, but I just don’t think people should be looking for another rocket ship like we’ve seen twice this year,” he said hey.

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