ย
Today we are watching…
1.ย CarMax (#carmax)
Auto finance and services company, CarMax, will be confirming its second quarter earnings next week. Time being, analysts generally give this an overweight/outperform or buy with a one year-ahead price target of $97.75. The Invstr community currently shares that bullish position. The company, relative to its assets, is profitable and has offered a healthy rate of return (34%) in terms of its price appreciation. So this is a long term buy offering growth and the prospect of a generous dividend payout.
2. Overstock (#overstock)
The question on everybodyโs lips should be, why is the ex CEO of e-commerce giant Overstock, Patrick Byrne, selling 4.8 million of his company shares after 3 days of skyrocketing price hikes. And why only 87,000 of these were sold on the open market and the rest โgiftedโ. Byrne has a flowered history. Only in August he admitted having an affair with a Russian agent and had helped pass on valuable information to the US about Russian meddling in US politics. And the companyโs plan for a crypto dividend payout that could only be accessed through its own exchange, was forced to make a turnaround and make them freely tradable. Itโs a super-volatile stock. Perhaps this is the reason why itโs so popular with investors happy to short the stock and/or hold it for a very โshort, longโ period. Bear that mind as analyst DA Davidson recommends it as a buy with a $48 price target!