My Top 3 “Slingshot” Stock Picks
Back on May 3, I posted an article titled, “The ‘Instagram Generation’ Makes This $30 Stock an Instant ‘Buy.’”
In it, I made the argument that the next trend in the post-COVID-19 world would be one of vanity.
If you recall, I said…
You see, for the last 18 months, we’ve all been looking at our faces on Zoom and noticing every imperfection. Maybe your eyelids droop, maybe you have dark circles under your eyes, maybe you’re losing your hair or going gray, or maybe that double chin is just getting to be too unpleasant to look at. Whatever the reason, I believe we’ll see a comeback in cosmetic plays. From an investment angle, this sector is undervalued and quite overlooked. For us, it could set up a great opportunity.
To profit off this trend, I recommended shares of Cutera (Nasdaq: CUTR).
My forecast was crystal clear…
I said, “Of all these candidates, the play I like the best is Cutera… I’m forecasting a retest of the February highs at $37 and above.”
Just look at this chart…
Right on the money!
Trade of the Day member S.R. wrote to me this morning and said…
@bbottarelli – Congrats on the mention of CUTR on May 3rd 2021 – the share price is up nearly +30%.” S.R. 5/24/2021 at 9:06:55 am
So naturally, after I made a pick like that, you’re probably now wondering…
What’s my next post-COVID-19 winner?
Today, I’ll give you three plays that I’m calling “slingshot” stocks.
These are companies that will not only retest their pre-COVID-19 highs but also slingshot ABOVE those levels in the weeks and months ahead.
Here are my top three slingshot picks…
Pick No. 1: Starbucks (Nasdaq: SBUX)
Will Starbucks bounce off $110 support? Over the weekend, I stopped into a Starbucks to see quite a sight: a mobile order line that was backed up for 45 minutes! The lines were out the door, and the demand was insane. The store was a madhouse. If people are starting to flood back into stores – now with an expanded menu that offers food – I could see sales remaining very strong. In a recent UBS survey, 66% of responders said they are not comfortable eating in restaurants – which makes Starbucks a prime slingshot stock.
Pick No. 2: Live Nation Entertainment (NYSE: LYV)
After an 18-month hiatus, concerts are starting to sell out – which could make Live Nation one of the biggest slingshot stocks available today. I think you could see the stock price shoot above $100 very soon – as pent-up concert demand will remain red-hot for the next 12 to 24 months.
Pick No. 3: Planet Fitness (NYSE: PLNT)
As with Live Nation, we could see a slingshot reaction in Planet Fitness as people get comfortable going to gyms again. Dip-buyers have supported recent dips, which formed a daily “W” formation that could allow shares to retest the $88 level very soon.
Action Plan: All three picks have been active trade recommendations inside The War Room, and we haven’t had a losing trade yet. If you want to get our real-time buy and sell advice on our slingshot picks and everything else, then you’re invited to join us today!
P.S. If you’re not quite ready for The War Room, then upgrading your membership to Trade of the Day Plus is your next best alternative. You’ll get our top pick every Wednesday straight from Karim and me, all in an engaging video format. Upgrade now!