As always, we view the stock's performance from last month before we dive into our new stocks to keep an eye on for the month of November.
Roku (NASDAQ: ROKU)
What's wrong Roku? Can't seem to play with the big dogs of Silicon Valley? Can't seem to satisfy your analysts either? It was inevitable that this company was bound to get eaten up by wall street as they started to chime their opinions and future prospects for the company. Let me say, they weren't entirely positive. Since then, Roku continues to close at it's lowest price since it IPOed.
Amazon (NASDAQ: AMZN)
The tax scandal in Luxembourg was brushed off, there haven't been many headlines on the ordeal. Amazon claims that they extended their tax haven/deductions deal in Luxembourg in 2011. However, the EU still wants its money. On the bright side, Amazon reported phenomenal earnings, pushing its stock price 13% to an all-time high. It also pushed Amazon CEO Jeff Bezo's into the richest man/person in the world.
Six Flags (NYSE: SIX)
Six flags were given thumbs up by numerous media outlets recently on fright fest. Mentioning that the amusement park guarantees a fun time and is one of the best worldwide. The earnings they reported also crushed analysts estimates. Lastly, Six flags mentioned opening a new park in China. Overall, a general positive outlook for this company in October.
MGM Resorts International (NYSE: MGM) Wynn Resorts Limited (NASDAQ: WYNN) Las Vegas Sands Corp. (NYSE: LVS) Boyd Gaming Corp. (NYSE: BYD) and Caesars Entertainment Corp. (NASDAQ: CZR)
The sell-off for MGM shares seemed to continue after the Vegas shooting until October 16th. MGM has modestly recovered. Wynn resorts, on the other hand, continued to be sold, Wynn reported 3rd quarter earnings, according to the CEO, Steve Wynn says that the massacre didn't harm the prospects or revenues of the company. Las Vegas Sands stock price was also harmed this whole month, despite also reporting phenomenal earnings. Caesars corp also saw the same drop in stock price. The only company that managed to recover from October 1st sell-off and failed to beat analysts estimates was Boyd gaming. Investors are so silly.
Stocks to look at in November
Snapchat (NYSE: SNAP)
Snapchat created a dancing hot dog costume for Halloween. I believe revenues will skyrocket with this business tactic. Genius part on their end. I bet analysts are looking at this and thinking "Snap inc. is a buy and hold forever, let this rise to a share price of $150"
Alright, jokes aside. (I still think this costume is pretty dope.) But I want to keep a close eye on Snap. Analysts have completely bombarded this company with negative feedback. From their failed spectacles they sell to their slow growth of new users joining the platform, to analysts just wondering "what the hell is Snapchat?" I still think this bad boy has a bright future ahead. Mainly since advertisers and businesses are now placing ads on different Snapchat stories. Big media companies are putting good sums of cash just to have their show/story on Snapchat.
NBC Universal just recently created a studio to create ONLY Snapchat content. I don't know, I might be wrong, call me stupid, but if NBC Universal and other media companies pay good cash to have a program listed on Snapchat, then Snap inc. is doing something correct that is attracting them away from their competitors.
GoPro (NASDAQ: GPRO)
Another hammered stock. GoPro stock soared to almost $90 a month after its IPO initial price of $28. That was when the CEO announced he was selling shares. Red flag! As time went on, GoPro struggled to release products as well as diversify the products being sold. Red flag! As more time went on, GoPro wanted to release new products, but they continued to have delays and excuses. Red flag! GoPro was super oriented to creating hardware and not focus on software, the cameras did not have internet connectivity to upload to Snap, Facebook, Instagram, etc. and that in itself is suicide in the 21st century. RED FLAG! This year, it can be a huge turnaround. As they got their shit together, have entered the drone marketplace, which has been very effective, they have focused on software so you can finally upload your cool images/videos on the internet, and they have a line of accessories for their products. They report earnings Nov. 1st and I sure will keep an eye on its earnings.
Fitbit (NYSE: FIT)
Ah, another stock that flew after its IPO, just to later fall and fall. Fitbit made plans to capitalize on an app they were developing for Fitbit users, come the release of the app, there was no way for Fitbit to make money. Fitbit then became an ignored product as Apple and Samsung slowly got into the wearable tech game. Fitbit has recently released it's Ionic smartwatch that tracks glucose levels for diabetics. A very niche oriented aspect for the business, however, it has also released a monthly subscription plan that gives you certain workouts based on the athletic ability your Fitbit senses. Not bad.
Activision Blizzard (NASDAQ: ATVI)
The king of esports. Parents, if you see that your child is focusing on video games a lot more than school work, here is some advice for you, let them. Let them play and become better gamers, let them create content of themselves playing the game and upload to a media platform, sooner or later, and that's IF they're good, large companies like Activision will fly them out to a gaming convention, ask them to play a few hours at a 3 - 7-day long event, and he or she will come back home with a million dollars in their pocket. If not, then they'll come back home with a sponsorship by a company that will pay them a lot more money had they gone to school and gotten a job.
Rant aside, this company has been doing well this year. As the popularity of esports is slowly growing and could potentially be a nationwide event that is watched in every corner of the country. Activision is releasing their latest game in the Call of duty franchise, Call of duty WWII. According to its annual report, any Call of duty game released by Activision is the second cash cow for ATVI. We'll just have to wait and see what analysts have to say about the game and how it will affect the quarter for Activision.