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4 Stocks I'm Watching This Week as Potential Buys

By Jose Najarro – Oct 4, 2021 at 12:00PM

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One is an e-commerce giant, and its stock price has just seen a minor correction.

Today's video focuses on recent news affecting Cerence (CRNC -2.05%), Facebook (META 0.49%), Alphabet (GOOGL -0.94%) (GOOG -0.94%), and Mercadolibre (MELI 1.38%). Here are some highlights from the video:

  1. Cerence is a company focusing on conversational AI in smart cars. In September, Cerence won numerous contracts in the electric vehicle market. On Sept. 28, Cerence announced that Vietnamese EV company Vinfast had selected Cerence to power its intelligent voice assistant. On Sept. 20, Cerence was chosen for some of Audi's electric vehicle lineup.
  2. Facebook's stock price has seen a slight correction in recent weeks due to numerous events. These include federal hearings and the effect on Facebook's advertising metrics of changes Apple (AAPL -0.34%) has made to how it collects user data. Facebook has some challenges in the short term, but investors are also excited about Facebook's push for technology improvements in AR, VR, and the metaverse.
  3. Mercadolibre's stock price has also seen a slight correction. Unlike Facebook, Mercadolibre has not seen any significant changes to its business. Two reasons for the downturn in stock price could be the overall volatility in the market and a recent downgrade on Sept. 27 by an analyst. 

Click the video below for my full thoughts and analysis. 

*Stock prices used were the closed prices of Oct. 1, 2021. The video was published on Oct. 3, 2021.

 
 

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Jose Najarro owns shares of Alphabet (C shares), Cerence Inc., Facebook, and MercadoLibre. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Apple, Facebook, and MercadoLibre. The Motley Fool recommends Cerence Inc. and recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policyJose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

Stocks Mentioned

Alphabet Stock Quote
Alphabet
GOOGL
$92.83 (-0.94%) $0.88
Meta Platforms Stock Quote
Meta Platforms
META
$115.90 (0.49%) $0.57
MercadoLibre Stock Quote
MercadoLibre
MELI
$896.48 (1.38%) $12.24
Alphabet Stock Quote
Alphabet
GOOG
$93.07 (-0.94%) $0.88
Cerence Stock Quote
Cerence
CRNC
$18.14 (-2.05%) $0.38
Apple Stock Quote
Apple
AAPL
$142.16 (-0.34%) $0.49

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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