Hot Stocks To Watch: AMD, EL, MGM, and More
The uptrend for Advanced Micro Devices (AMD) continued on Monday. Shares gained 8.81% to close at $126.39, thanks to a bullish analyst rating.
Analysts at Piper Sandler believe that AMD’s latest MI400 Instinct server will boost sales. In addition, Helios, a full-server rack that connects thousands of chips together, is a growth driver. Customer demand for AI hardware remains strong. Helios could be “pivotal for AMD Instinct sales growth,” the analysts wrote.
Estee Lauder (EL) shares gained 10.82% to close near $75. The firm announced the passing of Chairman Leonard Lauder. Investors may also consider watching LVMH, Ulta Beauty (ULTA), and elf Beauty. EL stock has been nearly flat in performance in the last year, while its peers rebounded.
MGM Resorts (MGM) benefited when BetMGM increased its annual revenue and earnings forecast for this year. The joint venture is between MGM and Entain.
BetMGM is forecasting $2.6 billion in revenue and at least a core EBITDA of $100 million or more. Momentum for sports betting and iGaming continued. In Q1, revenue grew by 34% Y/Y.
Among the most speculative stocks on the Nasdaq (QQQ) is SharpLink Gaming (SBET). The stock added 45.60% on Monday, erasing some of the 54.4% weekly losses. Still, shares peaked at $124.12 earlier this month. SBET stock has a 52-week trading range of $2.26 - $124.12. The volatility is due to confusion over the firm’s filing.
SBET filed a 58.7 million potential share resale. However, Chairman Lubin said that the filing is a standard procedure. The firm did not have any current share sales.
