fbpx
QQQ
+ 0.00
331.51
+ 0%
DIA
+ 0.00
345.54
+ 0%
SPY
+ 0.00
419.10
+ 0%
TLT
+ 0.00
139.92
+ 0%
GLD
+ 0.00
170.04
+ 0%

Sean Udall Names His 3 Favorite SPACs On 'PreMarket Prep'

April 21, 2021 11:37 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Sean Udall Names His 3 Favorite SPACs On 'PreMarket Prep'

Special purpose acquisition companies have become a group trade, Quantum Trading Strategies CIO Sean Udall said Wednesday on Benzinga's YouTube show "PreMarket Prep."

Once a few of the SPACs bounce, "you are going to get a bounce in 40-50 of them," Udall said. 

Udall said his three favorite SPACs are Opendoor Technologies Inc (NASDAQ:OPEN), Desktop Metal Inc (NYSE:DM) and Metromile Inc (NASDAQ:MILE).

Udall On Opendoor: Udall said he doesn't know if Opendoor has bottomed, but at its current level it's only trading at 2x-3x sales. 

People are making offers on houses above the asking price all over the country, Udall said.

Opendoor is "Redfin Corp (NASDAQ:RDFN) part two," he said, adding that the company is a "best-of-breed house flipper."

Udall On Desktop Metal: The companies that were early in the 3D printing space will be "out-innovated" by the newer 3D printing companies, Udall said.

Desktop Metal is one of those disruptive companies, he said. 

Related Link: Adaptive3D Partners with EnvisionTEC to Deliver Additive Manufacturing Elastomer Solutions at Scale

Metromile: This stock has never been hot, he said, adding that the stock price is cheap because SPACs have been beaten up.

Price Action: Opendoor was up 8.45% to $17.83 at last check Wednesday. 

Desktop Metal was up 8.27% at $12.18. 

Metromile was up 5.88% to $8.02.

Image by Photo Mix from Pixabay.


Related Articles

7 Stocks That Fit Cathie Wood's Big Ideas 2021, Could Be Added To Ark ETFs

Ark Funds held its annual Big Ideas event recently and shared 15 themes to watch for 2021 and the future. read more

5 MLPs To Buy And 4 To Sell

Stocks to Watch for 6/24/11: Fresh 52 Week Highs and Lows

Stocks to Watch for 6/23/11: Fresh 52 Week Highs and Lows