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Once a hypergrowing phenomenon during the pandemic, Zoom Video (ZM) shares pulled back after posting third-quarter results. The stock lost over 4% despite raising its guidance.
In Q3, Zoom posted revenue growing by 2.6% Y/Y to $1.17 billion. Q3 Non-GAAP EPS was $1.38. For Q4, the firm expects revenue to top up to $1.18 billion. ZM stock is an attractive trade, already rewarding investors who picked up the stock at the $55 low in the summer. However, the company needs a growth strategy to sustain the stock’s uptrend.
Watch Vistra Energy (VST), which is trading near its 52-week high. JP Morgan added VST stock to its focus list, setting a $178 price target. Nuclear energy is an attractive alternative energy source. As a result, firms like GE Vernova (GEV) and Constellation Energy (CEG) are stocks that investors should also watch.
In the oil and gas market, watch ConocoPhillips (COP). Selling pressure may rise after the firm closes its acquisition of Marathon Oil on Friday. It is paying $22.5 billion in an all-stock deal. COP stock is among the most attractive energy holdings. Consider Exxon (XOM) and Chevron (CVX) as well. Chevron attracted a high short interest of 58.86 million shares as of October 31, or 3.3% of the float.
Once WTI crude prices recover, CVX, XOM, and COP stocks should rally.
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