Hot Stocks on the Horizon: Your Guide to Must-Watch Investments
Buying stocks is easy, but buying quality stocks without a time-tested strategy is incredibly hard. There are thousands of publicly traded companies you purchase stocks from, so it’s not surprising that you may not know the next move to take.
This brings us to the question, what are the best stocks to watch in the second half of 2023? While we don’t have a crystal ball that tells us what stocks will generate massive gains, we’ve compiled a list of likely contenders based on insights regarding the hottest stocks. Let’s take a deeper look.
CXApp (NASDAQ: CXAI)
The CXApp is a platform for managing workplace experiences and events with an easy-to-use, intelligent, and intuitive mobile app. It consolidates a workplace tech stack’s features, functions, and services of a workplace tech stack into a mobile app. Its features are indoor mapping, employee application, room booking, on-device positioning, and an AI-based analytics platform.
The stock prices for the CXApp have been bullish in the past few months due to increased demand for companies in the AI sector. The share price soared to $21, giving the company a market cap of more than $200 million. The price keeps soaring to all-time highs.
NVIDIA (NVDA)
Nvidia Corporation is known for its role in the visual computing and graphics processing units (GPU) industries. The company has a strong presence in gaming, AI (Artificial Intelligence), VR (Virtual Reality), gaming, and HPC (High-Performance Computing).
NVDA is trading at $430.25, up 177% from its 2023 opening price. Volatility is currently high, and large movements are to be expected. The options markets of NVDA are tight and liquid. Look to July for short premium selling opportunities.
Vaalco Energy (EGY)
Vaalco Energy is an independent Texas oil and gas exploration and production company. Russia’s invasion of Ukraine in 2022 significantly disrupted global energy markets. As a result, energy supply shortages and inflation of commodity prices led to record profits for the energy sector.
In 2022, Vaalco reported 43% of production growth and recently raised its dividend by 92% to a yield of more than 5% yield. The positive spike indicates that the company’s management expects the momentum to continue in the year’s second half.
Among many others, Vaalco Energy is one of the hottest stock picks from Stockstotrade.com.
CompoSecure (CMPO)
CompoSecure is a design and manufacturing company focusing on premium metal payment cards. It also provides professional services to clients globally. The company’s metal car technology aims to increase customer spending and improve the experience of affluent credit card users.
CompoSecure reported impressive growth numbers in the most recent quarter. This includes 56% net sales growth and 17% year-over-year net income growth. Revenue in Q3 was $103.3 million, a significant increase from $66 million in 2022. Earnings before interest, taxes, depreciation, and amortization were $32.7 million, a 33% increase from the previous year.
CTI BioPharma Corp (NASDAQ: CTIC)
CTI BioPharma is a pharmaceutical company focusing on developing, acquiring, and commercializing treatments for blood-related cancers. On May 10, the pharmaceutical company was acquired by Swedish Orphan Biovitrum AB (SOBI), a specialized international biopharmaceutical company based in Sweden.
The company was acquired in an all-cash transaction for $1.7 billion or $9.10 per share. Following this, the share price of CTI rallied by 85%, from $4.82 to $8.93 per share.
Bottom Line
While we think these are good stocks to watch, they might not be your choice, especially if you don’t have established and diversified portfolios. All companies are immune to volatility, so you’ll want to develop your unique trading style and research each company before investing in any of them.
