📈 Alpha Picks & Market Update

12th of Feb, 2024

Welcome Investors!

Here’s your Alpha portfolio update for the week:

  • Returns so far this year +2.43%

  • Our leading stock is AMD currently at +18.6% while our position in Wabash National Corp is lagging behind at -9.2%

  • Total positions: 16
    See the investment portfolio for the rest of our positions.

Table of Contents

Market Snapshot

  • Stock markets in general were mixed this week with little in the way of major market-moving data.

  • US stocks mostly rose, as the S&P 500 becomes S&P 5000 for the first time.

    • The Nasdaq led indices with a 1.25% gain, while the Dow fell 0.14%.

  • Where is the strength? It’s fairly widespread across sectors.

    • Technology remains solid at 21% y/y growth, while energy, health care and materials lag with lower profits from a year ago.

    • Positive surprise rates are topping 80% in consumer staples, energy, health care, industrials and technology.

Alpha Picks of the Week

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Harmony Gold Mining - HMY

Harmony Gold Mining (HMY)

Harmony Gold Mining Co. Ltd. engages in the mining and exploration of gold. It involves building mines, open-pit operation, sales and financial management, land rehabilitation, and mine closure.

Hedge Fund trading activity on HMY

  • HMY is one of Insider Memo’s top 10 Alpha picks this week.

  • HMY is trading near the top of its 52-week range and above its 200-day simple moving average.

  • Profit margin increased by 8% over last year.

  • Hedge Funds Increased Holdings in HMY by 2.8M Shares Last Quarter.

IM Trading Desk

The following companies are on our watchlist for trade opportunities. We are looking for long entry on these with 15-20% stop-loss per trade.

  • SSTK

  • BRZE

  • APP

  • CRSR

  • RPD

Thank you for being a part of The Insider Memo community.

Remember, investing is not just about wealth; it's about making informed decisions that shape your future.

Have a great week!

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