To avoid missing out on the stock market rebound, speculators returned to former high-flying stocks. Palantir (PLTR) led the advance yesterday but could drop today. The firm won a supply deal with NATO on April 14.
Palantir will supply its Maven Smart System for NATO’s Allied Command Operations. Ludwig Decamps, NCIA General Manager, said that NCIA will work with Supreme Headquarters Allied Powers Europe (SHAPE) and Palantir to deliver MSS NATO to the Warfighter, providing customized state-of-the-art AI capabilities to the Alliance.
Hewlett Packard Enterprise (HPE) closed above $15.01 on Tuesday. It is trying to break out of a downtrend that started in February. Bloomberg reported that Elliot Investment Management built a position worth over $1.5 billion.
Netflix (NFLX) is fighting off a downtrend as shares struggle to return to the $1,000 level. The firm needs to increase its subscription count to attract investors.
Albemarle (ALB) will open down by at least 1% this morning after dropping by 5.89% yesterday. Lithium supplies far exceed demand. As the clean energy fad wanes and sales of electric vehicles fall, ALB stock risks breaking below its 52-week low of $49.43.
Dow (DOW) shares are under pressure again today after Bank of America analysts downgraded the stock by two levels. They cited macroeconomic weakness, the pending global trade war, and higher costs ahead to justify the downgrade. Beware of Dow cutting its dividend, which returns $2 billion to shareholders.
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