If you’re looking for some stock ideas for the week of August 01, 2023, you might want to check out this article that I wrote. It features 5 of  the stocks picked by my colleague Clay Trader, a professional trader and educator who has been teaching people how to trade stocks for over a decade. He has a keen eye for spotting technical patterns and trends in the stock market, and he shares his insights and analysis in his videos and articles. In this article, you’ll find his picks for $TUP, $SOFI, $NKLA, $PLTR, $AMC. You’ll also learn why he chose these stocks and what he expects from them. To learn more about Clay and watch his video, click on this link: claytrader.com

Here, my personal insights.

$TUP: Tupperware Brands Corporation is a global direct-to-consumer marketer of premium, innovative products across multiple brands and categories. The stock has been on a strong uptrend since October 2020, when it reported better-than-expected earnings and revenue. The stock has gained over 600% in the past year, outperforming the industry and the market. The company has been benefiting from its turnaround strategy, which focuses on improving its sales force, enhancing its digital capabilities, and expanding its product portfolio. The company is expected to report its fourth-quarter results on February 24, 2021. Analysts expect the company to post earnings of $0.84 per share, up from $0.01 per share a year ago, and revenue of $489.5 million, down 1.6% year-over-year.

$SOFI: SoFi Technologies Inc. is a digital financial services platform that offers a range of products and services, such as student loan refinancing, mortgages, personal loans, credit cards, investing, banking, and financial education. The company went public in June 2021 through a merger with a special purpose acquisition company (SPAC) called Social Capital Hedosophia Holdings Corp V. The stock has been volatile since its debut, as the company faces competition from other fintech players and regulatory uncertainty. The company reported its second-quarter results on August 12, 2021. The company posted a net loss of $165.3 million, compared to a net income of $7.8 million a year ago, and revenue of $237.2 million, up 74% year-over-year. The company also raised its full-year guidance for revenue and members.

$NKLA: Nikola Corporation is a company that designs and manufactures zero-emission vehicles and infrastructure solutions for the transportation industry. The company’s products include battery-electric and hydrogen fuel-cell electric trucks, powersports vehicles, and energy solutions. The stock has been under pressure since September 2020, when a short-seller report accused the company of fraud and deception. The company has also faced several legal and regulatory challenges, as well as delays in its production and partnerships. The company reported its second-quarter results on August 3, 2021. The company posted a net loss of $143.2 million, compared to a net loss of $115.8 million a year ago, and revenue of $0, as the company has not yet delivered any vehicles to customers. The company also lowered its guidance for vehicle deliveries and capital expenditures for the year.

$PLTR: Palantir Technologies Inc. is a software company that provides data analytics and artificial intelligence solutions for various industries and sectors, such as defense, intelligence, healthcare, energy, and finance. The company went public in September 2020 through a direct listing on the New York Stock Exchange. The stock has been trading in a range since November 2020, as the company faces mixed reactions from investors and analysts. The company reported its second-quarter results on August 12, 2021. The company posted a net loss of $138.5 million, compared to a net loss of $111.7 million a year ago, and revenue of $375.6 million, up 49% year-over-year. The company also raised its full-year guidance for revenue growth to 40%, up from 30%.

$AMC: AMC Entertainment Holdings Inc. is the largest movie theater chain in the world, with over 950 theaters and 10,500 screens globally. The stock has been one of the most popular meme stocks among retail investors, who have been buying and holding the stock to create a short squeeze and drive up the price. The stock has surged over 1,800% in the past year, despite the challenges faced by the movie theater industry due to the COVID-19 pandemic. The company reported its second-quarter results on August 9, 2021. The company posted a net loss of $344 million, compared to a net loss of $561 million a year ago, and revenue of $444.7 million, up from $18.9 million a year ago. The company also announced that it will accept Bitcoin as a payment method by the end of the year.