5 Stocks To Trade on Thursday
Investors have five stocks to consider trading today. In the lithium mining sector, Albemarle (ALB) continued its breakout. ALB stock has consolidated in the $60 range since April.
UBS noted that prolonged supply disruptions in China could impact up to 15% of lithium production. Sigma Lithium (SGML), SQM (SQM), and Lithium Americas (LAC) are also worthwhile speculative trades.
Trade #2: Paramount Skydance (PSKY) is in danger of re-testing lower prices in the low teens. The stock lost 6.5% on Wednesday on no news. In November, the firm might cut a significant number of jobs, as The New York Post reported last Friday.
For #3, J.M. Smucker (SJM) fell over 4% to close at $105.67. It posted soft guidance in its fiscal Q4 earnings report. Although comparable net sales increased by 6%, net pricing for peanut butter offset its growth.
SJM stock is under pressure after full-year net sales are expected to be 3% - 5%. This is higher than its prior outlook.
Fourth, the stumble in Palantir (PLTR) shares continued. Fortunately, the stock has an upward support level at the 50-day simple moving average.
The fifth stock to watch is SBA Communications (SBAC). Shares “double-topped” at $245. It lost $10.71 a share to close at $208.13. BofA Securities downgraded the stock. It viewed AT&T’s (T) deal with EchoStar (SATS) would raise SBAC’s churn rates.
