Stock Region Newsletter: Watchlist - Monday, March 4th, 2024
Hello Stock Region Member,
As we kick off another exciting trading week, we've identified three stocks that are showing significant promise: Super Micro Computer, Inc. (SMCI), Deckers Outdoor Corporation (DECK), and Macy's Inc. (M). Here's why these stocks should be on your radar:
1. Super Micro Computer, Inc. ($SMCI): SMCI shares have soared nearly 800% over the past year, thanks largely to the growing demand for AI technologies. Recently, SMCI was added to the S&P 500 index, further boosting its stock price and signifying recognition for its growth and stability. Moreover, SMCI crossed a $50 billion valuation after a 220% YTD gain, making it a stock to watch closely in the coming week. Keep an eye on levels above $1,053.95, and below $1,004.00.
2. Deckers Outdoor Corporation ($DECK): DECK has been performing well recently, with no specific details provided. Known for its strong brand portfolio including UGG, HOKA ONE ONE, and Teva, the company continues to enjoy robust performance. DECK's focus on expanding its e-commerce capabilities and international presence adds to its appeal. Watch for levels above $949.00, and below $945.00.
3. Macy's Inc. ($M): Despite a challenging retail landscape, Macy's has shown resilience. The company's "Polaris" strategy, which focuses on strengthening customer relationships, expanding assortments, and investing in e-commerce, is driving growth. Macy's recent earnings report beat expectations, signaling recovery from the pandemic's impact. In addition, Macy's announced plans to reinstate its dividend and ramp up its share repurchase program, potentially adding to its stock's appeal. Look for levels above $21.25, and below $20.12.
While these stocks show potential, remember to conduct your own research or consult with a financial advisor before making any investment decisions.
As always, we'll continue monitoring the market and bringing you timely updates. Here's to a successful trading week!
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Best regards, The Stock Region Team