Investors are on the hunt for undervalued, underfollowed and emerging stocks to spot opportunities.
Retail traders have countless methods at their disposal to uncover new information. For some, this may be overwhelming. Benzinga’s Moneymaker Index uses a combination of proprietary data and pattern recognition to showcase five stocks each week that are just under the surface and warrant attention.
Here is a look at the Benzinga Moneymaker Index for the week of Jan. 5, 2023.
Related Link: Exclusive: Top 10 Searched Tickers On Benzinga Pro In December 2022, Where Do Tesla, Apple, AMC Rank
- Oblong Inc OBLG: The cloud-based communications company saw shares trade up over 40% to start 2023. The move comes after the company announced a 1-for-15 reverse split to start the new trading year.
- Enovix Corporation ENVX: The silicon-anode lithium-ion battery company saw shares drop at the start of 2023. Enovix recently provided an update on production and commercialization. Comments from the company on needing additional funding may have spooked investors.
- Geron Corporation GERN: The clinical stage biopharmaceutical company saw shares surge on Wednesday, Jan. 4, after it announced results from a Phase 3 trial of its imetelstat treatment. Geron plans to submit an FDA marketing application in the U.S in 2023 and one in Europe in 2023 as well. Shares fell in the after hours trading session Wednesday after the company announced a share offering.
- ReShape Lifesciences RSLS: The medical device company saw shares surge on Tuesday, Jan. 3 — the first day of the new trading year. The move came after it completed a 1-for-50 reverse split in late December and now have lowered the trading float on shares.
- Starbucks Corporation SBUX: The coffee chain isn’t on the same level as the typical small cap stocks featured on the Benzinga Moneymaker Index. Sometimes, a large cap name jumps out with more frequent mentions and searches in the proprietary data. That’s what happened with Starbucks among the most popular stocks for the week. The inclusion comes as analysts are turning more bullish on Starbucks. Cowen raised the price target from $104 to $112 with China reopening stores being called a tailwind. Barclays also raised the price target from $105 to $121. Shares of Starbucks are down 5% in the last year and sit around the $104 level where analysts’ price targets previously were.
That’s it for this edition of the Benzinga Moneymaker Index.
See the latest in the Benzinga Moneymaker Index stocks to watch here.
Stay tuned for next week’s report and follow along with Benzinga Pro for all the latest headlines and top market moving stories here.
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