Bond yields rose, but the S&P 500 hit its first intraday record since May, while both the Dow and Nasdaq NDAQ skyrocketed, as well. Find opportunities in this market with today’s Top Shorts.
Supposedly, inflation is no longer as much of a concern for investors as stocks staged a furious rally despite inflation coming in at its hottest level since August 2008. The consumer price index for May accelerated by 5% from a year ago, which exceeded the consensus estimate of 4.7%. However, many economists say that this number may be skewed by used-car sales. Bond yields also rose. Yet, the S&P 500 hit its first intraday record since May, while both the Dow and Nasdaq NDAQ skyrocketed as well. The Dow Jones DOW rose 275 points, the S&P 500 climbed 0.6%, and the Nasdaq gained another 0.7%. If you’re looking for a way to play this market, the deep learning algorithms at Q.ai have crunched the data to give you a set of Top Shorts. Our Artificial Intelligence (“AI”) systems assessed each firm on parameters of Technicals, Growth, Low Volatility Momentum, and Quality Value to find the best short plays. Sign up for the free Forbes AI Investor newsletter here to join an exclusive AI investing community and get premium investing ideas before markets open. One of the top darlings of the Reddit trade, Amc Entertainment Holdings AMC is our first Top Short of the day. The company owns movie theatres across the U.S. and internationally through itself and its subsidiaries. Before we get the WSB army against us, our AI systems rated AMC B in Technicals, F in Growth, F in Low Volatility Momentum, and F in Quality Value. The stock closed down 10.37% to $49.34 on volume of 150,361,300 vs its 10-day price average of $42.54 and its 22-day price average of $26.21, and is up 2354.73% for the year. EPS grew by -60.18% in the last fiscal year. Revenue was $1242.4M in the last fiscal year compared to $5460.8M three years ago, Operating Income was $(1565.3)M in the last fiscal year compared to $309.3M three years ago, EPS was $(39.15) in the last fiscal year compared to $0.41 three years ago, and ROE was 6.27% three years ago. Forward 12M Revenue is also expected to grow by 37.89% over the next 12 months. Beyond Meat Inc is our second Top Short today.
