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We take a look at four trending Wall Street stocks as we head towards the opening bell.

Lucid Motors (NYSE:CCIV)

Another week, and another EV maker is generating excitement. This time it is Lucid Motors, which is going public via a SPAC acquisition. The SPAC in question is Churchill Capital IV, which is backed by Wall Street honcho Michael Klein (ex-Citigroup). Churchill Capital has seen some volatile price moves since January, hitting $58 at one stage. It closed Tuesday up 8.4% at 31.10. It currently has a market cap of just north of $8bn. CEO Peter Rawlinson just went on CNBC to defend the Lucid market position against the possible entry of Apple into the electric vehicle market. He told Mad Money he would welcome the competition. “There’s always room for new entries,” Rawlinson told CNBC. “There’s no such thing as an EV market – this is a market for cars and EV will penetrate and completely fill that.”

Crowdstrike Holdings (NASDAQ:CRWD)

Crowdstrike Holdings is in another key sector we like. The security software company posted a revenue gain of $264m yesterday (Tuesday) which was well north of its guidance range. It beat the street consensus by more than $14m. Adjusted profits were at 13 cents a share, again smashing the anticipated 8 cents. Revenue was up at $874m for the year, that’s a punchy, punch gain of 82%. For the January 2022 fiscal Crowdstrike said it saw revenues of $1.31bn, that’s up 50% on the midpoint range. Interestingly there has been some heavy selling going on – the stock has dropped from 204 to hit 196 at the close in the US Tuesday (but most of the news seems to come out AFTER the bell). The 52 week high is 250.42. The stock may see some interesting action today (Wednesday). It is positioned in an area we think will enjoy considerable growth in 2021.

A date for your diary

On the 21st of October, Stuart Fieldhouse will be joining Sarah Lowther and Mark Watson-Mitchell to discuss which small cap investments they like the look of and, perhaps, which ones they do not. It promises to be a lively and insightful discussion. If you are interested in investing in small cap stocks then this could be a profitable use of your time. We hope you can make it! Sign up now

Plug Power (NASDAQ:PLUG)

Plug Power shares are moving too, but in the wrong direction for investors. Plug Power stock had been trading in the $47-48 range over the past week or so. They have dropped down to $42. This is a very interesting stock to watch as it has a 52 week trading range of $2.71 to $75.49 and a market cap of $21bn. It operates in the hydrogen power space which is hotter than hot right now. Due to an accounting error it has said it will need to restate years of financial statements, so investors will be wondering just how much it is really worth? Actually, many stock holders seemed to be sticking with Plug Power going into Wednesday’s US trading session, showing that the hydrogen sector is keeping allocators absolutely riveted. More to come on this one.

Sunlink Health Systems (NYSE:SSY)

Sunlink Health Systems stock exploded as the company announced that its Trace Regional Hospital has implemented a new $2m expansion plan.  This will upgrade and improve its physical plant, patient care and ancillary services. The company also specialises in retail pharmacy services. It runs a very small hospital, but the move seems to have caught the imagination of US investors. Stock in SSY climbed from just over two bucks to hit $6.47 in trading yesterday. The move occasioned some profit taking but not much and the shares were still trading at $4.85 at the close. This is a very small company, with a market cap of only $33m. Revenue at the last earnings call in February was reported at 10.15m, but there remains a lot of excitement around anything with healthcare on it at the moment.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Stuart Fieldhouse

Stuart Fieldhouse

Stuart Fieldhouse has spent 25 years in journalism and marketing, including as a wealth management editor for the Financial Times group, covering capital markets and international private banking, and as an investment banking correspondent for Euromoney in Hong Kong. He was the founder editor of The Hedge Fund Journal.

Stuart has worked at CMC Markets, supporting the re-launch of its global financial spread betting and CFD trading platforms. He is also the author of two books on trading, published by Financial Times Pearson. Based in The Armchair Trader’s London office, Stuart continues to advise fund managers, private banks, family offices and other financial institutions.

Stocks in Focus

Here are some of the smaller companies we are following most closely. They all represent significant growth stories in our view. Our in-depth reports go into more detail on why we like them.

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A date for your diary

On the 21st of October, Stuart Fieldhouse will be joining Sarah Lowther and Mark Watson-Mitchell to discuss which small cap investments they like the look of and, perhaps, which ones they do not. It promises to be a lively and insightful discussion. If you are interested in investing in small cap stocks then this could be a profitable use of your time. We hope you can make it! Sign up now

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