Courtesy of Benzinga
Benzinga Pro’s Stocks To Watch For Wednesday
- Netflix (NFLX) - Shares were up just 0.4% following a Q4 beat and mixed Q1 guidance. The company said it expects Q1 global streaming paid net subscriber additions of about 7 million subs.
- Tesla (TSLA) - With Tesla shares up 5% in pre-market activity, the company’s market cap, at market open, will hit $100 billion for the first time in its history. While a Neutral-rated Wedbush analyst, Daniel Ives, raised his price target on the stock from $370 to $550 this morning, this news item isn’t necessarily driving the stock Wednesday as this analyst was mostly playing catch up after not having updated his price target since the end of December. As discussed on Benzinga’s PreMarket Prep morning trading show, with many pundits calling for a top in Tesla, investors could consider the price action in Tesla as being driven by a short squeeze. At last check, Tesla short interest was nearing a relatively high level of 20%. Long-time bull on Tesla, money manager Ross Gerber, spoke with Benzinga Tuesday afternoon and suggested, with the stock over $100 billion, the stock “is correctly valued now.”
- NanoViricides (NNVC) - Following a more than 150% rally on Tuesday given trader sentiment the stock was in play amid the coronavirus outbreak in China, the company announced a 2.5 million share offering. After the offering priced at $3/share, NanoViricides shares were down 56% to around the $3.75 level.
- Tanger Factory Outlets (SKT) - The stock was up 3% ahead of the open following Tuesday-evening news the company will join the S&P SmallCap 600 as of Monday, Jan. 27, 2020.
- Virgin Galactic (SPCE) - Shares were up 9% pre market Wednesday, which continued a nearly 11% rally on Tuesday. A Morgan Stanley analyst Wednesday morning highlighted “a significant increase in incoming investor interest” in the level of investor inquiries the firm has received on the stock.
