| Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures dipped as investors balanced corporate earnings with the Federal Reserve’s upcoming rate decision. According to data from Bloomberg, earnings per share estimates for the S&P 500 have fallen since peaking in June 2022. Margins are now under pressure as slowing inflation erodes pricing power.
With more earnings reports coming up, it’s important to consider the best strategies for making fast gains in the market. Our “overnight trading” tactic is designed to potentially make you easy profits while you sleep.
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Here’s a look at the top-moving stocks this morning.
Carvana (NYSE: CVNA)
Carvana is up 6.50% premarket after a major 100%+ rally. Shares have doubled this year and retail traders are riding a wave that harks back to the meme-stock mania of 2021. With one day to go, Carvana is up 111% so far in January, on track for its best month ever.
If you were in The War Room, you would’ve seen us get positioned on Carvana last week. Yesterday we sold our options calls for a very strong winner.
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General Motors (NYSE: GM)
Gm is up 5.40% premarket. The company announced today it will jointly invest to develop the Thacker Pass mine in Nevada, which is the largest known source of lithium in the United States and the third largest in the world. GM will make a $650 million equity investment in Lithium Americas, which represents the largest-ever investment by an automaker to produce battery raw materials.
The soaring demand for lithium bodes well for the upcoming $7 trillion electric vehicle market. Right now our friend Andy Snyder believes this one EV startup has the best potential to overtake Tesla. Its car is among the fastest in the world, and it plans to ship out 1 million of them.
Click here to see why this supercar could disrupt the entire automotive industry.
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