Most Anticipated Earnings Releases for This Week 8/8/22 to 8/12/22
Here are my stock predictions for upcoming earnings plays this week. Understand that short squeezes are causing these massive stock runups lately. Read my article on how short squeezes work and refer to my list of best stocks to buy with high short interest if you want more information.
These are the stocks that I will be targeting for mostly long call & put options trades. Of course, you can go long on these stocks as well and buy them too.
Options can be risky so be sure to read my guide on how to trade options for beginners before you get started.
Buying the stock is safer but has less upside. Buying options is risky but the gains can be life changing.
Canoo (GOEV) – Earnings After Market Close
- GOEV Price Target After Earnings: $5
- Short Interest: 25%
Canoo landed a lucrative deal with Walmart to produce 4,500 last mile delivery vehicles. This is a big deal. Walmart is a $350 billion company and just purchased EVs from a tiny $1 billion EV startup.
I don’t think a lot of people understand how significant this is. GOEV is also a high short interest sitting at 25%. Could GOEV stock pump once we get more details on how much the Walmart deal is worth?
I loaded up on 8/12 $5 calls on Friday and will hold them through the week. I also like GOEV long term. The company moved its headquarters to Bentonville, Arkansas in order to work with Walmart closely.
Upstart (UPST) – Earnings After Market Close
- UPST Price Target After Earnings: $35
- Short Interest: 35%
Upstart released early Q2 2022 guidance and the numbers were brutal. Once the Fed raised interest rates, borrowers backed away from loans and caused Upstart’s loan volume to plummet. That’s not good.
The Fed plans to continue rising rates throughout the year so it could get worse. Is there anything to like about UPST stock?
Well, the poor guidance is already priced in plus UPST has a high short interest. Any good news could send UPST shares soaring.
Marathon Digital Holdings – Earnings After Market Close
- MARA Price Target After Earnings: $16
- Short Interest: 30%
Crypto stocks are soaring right now even though Bitcoin and other altcoins haven’t moved much. Why?
The dust has settled after the Luna crash and Voyager/Celsius bankruptcy. The worst is over right now.
MARA stock could get squeezed but it trades tightly with Bitcoin’s market price. I’m not opening any call options but would consider a long position.
Coinbase (COIN) – Earnings After Market Close
- COIN Price Target After Earnings: $150
- Short Interest: 22%
Wow! Coinbase is quite the stock to watch right now. I recommended COIN stock in my best stocks to buy right now article because the company is severely undervalued. COIN stock IPOed at $400+ back in April 2021 during a bullish crypto market. Now, crypto has cooled off and the short sellers have tanked the stock price.
So what’s the good news? Blackrock, the largest asset management firm in the world with over $10 trillion in assets, partnered with Coinbase to offer Bitcoin to its clients. That means Blackrock wants your Bitcoin.
Think about it: Bitcoin is down over 50% and all the smart money wants to buy it up. This news alone could add major trading volume and assets on the platform for Coinbase.
The shorts will get squeezed again and I expect COIN to trade closer to $150 since there’s been a lot of trading activity recently.
I will update this article throughout the week as I do more research and find hot plays before earnings
Disclaimer: This is not financial advice. I’m not a financial advisor nor investment guru. I’m just a regular guy who shares his stock & options trades along with my personal opinions. Do not invest money you cannot afford to lose and always make your own decisions. Some of these plays could soar or tank. I don’t have a crystal ball, folks.