With the nearly 5% jump in oil prices, Energy was one of the best performing sectors with an increase of more than 6.7%. It was followed by REITs, up 3.1%, and finance, up 1.2%. The S&P 500 Index rose 0.6% to reach 4,229, approaching its record high by 9 points. The Dow rose 0.7% and the NASDAQ rose 0.5%.
Apart from these movements, the stocks, which became popular among individual investors in various forums, came to the fore with serious rises, raising the concerns that intense speculative activities could harm the post-pandemic bull market. Below, we’ve reviewed three stocks that could dominate the market this week.
1. AMC Entertainment Holdings
AMC Entertainment Holdings (NYSE:NYSE:AMC), the most popular stock among a new generation of investors these days, may see some ups and downs as some investors race to cash in on their massive gains.
The company saw a decline in sales last quarter, for the 12th consecutive quarter.
Appointed some new executives in March to speed up the digital shift. The company has also recruited two more technology-experienced executives as part of the steps taken under the leadership of activist investor and board member Ryan Cohen to position itself in the digital space.
Online pet products retailer Chewy Inc. (NYSE: NYSE:CHWY) will release its latest quarterly results ahead of the market open on Thursday, June 10. Analysts expect a loss of 3 cents per share with sales of $2.12 billion.
During the pandemic, people tended to stockpile food for their pets. Thus, this situation is likely to increase in the future. Therefore, it seems that Chewy’s feelings will continue to increase. In March, the company talked about millions of new consumers adopting pets. He also mentioned the coronavirus outbreak that caused the company to use its online services. Thanks to this, it announced that its consumer base increased by 43% to 19.2 million active users.
Chewy expects net income in 2021 to be between $8.85 – $8.95 billion, which represents about 25% growth in revenue for the company, which is still in the early stages of growth. Chewy shares, which lost 16% this year, closed Friday at $75.21. Shares have risen more than 50% in the past year.