Straight from Benzinga newsdesk, host Brent Slava brings you the market news and stocks to watch.
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Brent Slava Reach out to Brent at email@example.com
Sr. Reporter, Head of Benzinga Newsdesk
Michael O'Connor Reach out to Michael at firstname.lastname@example.org
Benzinga Strategy Development
$BABA, $AMC, $NXST, $PLAY, $AERC
- Alibaba (BABA) –
- A play on China's version of Amazon (AMZN). US-traded China-based stocks rallied over the last week following the paring back of some COVID restrictions in China.
- Chatters in Benzinga Pro's lounge chat expressed their expectation for Alibaba shares to pullback next week following this week's rally. One chatter noted the $91.50 resistance level in Alibaba shares was a "tough" technical level for the stock to get over.
- AMC Entertainment (AMC) –
- A top-3 meme stock. Peer in the meme stock space, GameStop (GME), will report quarterly results after the close Wednesday.
- Shares of AMC and GameStop remain correlated given interest in the names by retail investors.
- Nexstar Media (NXST) –
- A play on the TV cable network space. Peer in the space, Paramount (PARA), gave a warning on its Q4 advertising sales on Tuesday.
- Shares of Paramount fell 7% on the news Tuesday.
- Dave & Buster's Entertainment (PLAY) –
- Analysts at Raymond James called Dave & Buster's shares "undervalued" Wednesday morning following the company's better-than-expected quarterly sales Tuesday afternoon. Despite what Raymond James described as a "strong" third quarter, shares of Dave & Buster's sold off about 3% on Tuesday.
- AeroClean Technologies (AERC) –
- A play on FDA clearance of the company's air purifier to include an indication to remove the SARS-CoV-2 virus from environments. Shares were up about 5% on the news Wednesday morning.
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