In today's video, I look at three stocks that are down from their recent 12-month highs. Below are three reasons to add these stocks to your watchlist as potential buys.
Three reasons to watch Virgin Galactic Holdings (SPCE 3.19%):
- Virgin Galactic is down roughly 61% from its all-time high, with a market cap of $5.46 billion.
- Virgin Galactic had a sell-off on Thursday due not to any fundamental changes to the business but to news that the CEO had sold shares. Many investors see this as a bearish note. Still, it is also important to note that the CEO has previously sold shares to use the funding to help other businesses of his that have been hurt by the pandemic.
- Virgin Galactic is still on target to do a spaceflight test in May 2021. The results could have a huge effect on the stock price.
Three reasons to watch Advanced Micro Devices (AMD 2.08%):
- Advanced Micro Devices is down roughly 14% from its all-time high, with a market cap of $100.8 billion.
- AMD stock jumped on Thursday after an analyst gave a bullish price target of $100.
- AMD has released new products in the past few months.
Three reasons to watch Churchill Capital Corp IV (CCIV):
- Churchill Capital Corp IV is down roughly 65% from its all-time high. CCIV is a SPAC planning to merge with Lucid Motors.
- CCIV stock took a huge drop on Thursday on no news and no change in fundamentals. Right now, high-growth and SPAC companies are still seeing a decline in prices, especially those that might be affected by the chip shortage.
- Lucid Motors has produced plenty of content online, showcasing the Lucid Air on the road and going through tests. This seems to be the final stretch before the car starts to be delivered to customers later this year.
Click the video below for my full thoughts.
*Stock Prices used were the closing prices of April 15, 2021. The video was published on April 15, 2021.