In this article we will take a look at some notable stocks that were in the spotlight this week. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Were in the Spotlight This Week.
It’s the end of the trading week and also near the beginning of the fourth quarter. Some stocks that were in the spotlight this week include Alphabet Inc. (NASDAQ:GOOG), Exxon Mobil Corporation (NYSE:XOM), Amazon.com, Inc. (NASDAQ:AMZN), Ford Motor Company (NYSE:F), Netflix, Inc. (NASDAQ:NFLX), Alibaba Group Holding Limited (NYSE:BABA), and Facebook, Inc. (NASDAQ:FB). Let’s analyze why each stock trended and how elite funds are positioned among them according to the latest 13F filings.
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Jeff Bezos of Amazon
10. Amazon.com, Inc. (NASDAQ:AMZN) is in the spotlight after Rivian Automotive filed to go public. Amazon.com, Inc. (NASDAQ:AMZN) owns more than 5% of the company and could benefit if the stock gets a high valuation. Rivian Automotive also develops commercial delivery vans for Amazon.com, Inc. (NASDAQ:AMZN). Amazon.com, Inc. (NASDAQ:AMZN) was the most widely held smart money stock at the end of Q2 according to our database of 873 elite funds, with 271 funds we track owning shares of Amazon. Billionaire Jeff Bezos is a big holder of Amazon as well.
9. Ford Motor Company (NYSE:F) is also in the spotlight due to Rivian Automotive filing for an IPO. Although Rivian wasn’t profitable last year, the company said vehicle production and deliveries began in September of this year. Ford Motor Company (NYSE:F) owns more than 5% of Rivian Automotive. The number of elite funds in our database that were long Ford Motor Company (NYSE:F) rose to 55 in Q2, 2021 from 49 in Q1, 2021.
8. Netflix, Inc. (NASDAQ:NFLX) rose more than 4.3% this week due to the news that it bought its first game studio, Night School Studio. Shares may have also risen due to the news that ‘Squid Game’ could become Netflix’s most watched show yet. The number of elite funds we track that were long Netflix, Inc. (NASDAQ:NFLX) rose by 3 from the prior quarter to 113 at the end of the second quarter.
7. Alibaba Group Holding Limited (NYSE:BABA) is in the spotlight after Aaron Kessler of Raymond James cut his price target to $240 from $300 and downgraded the stock to ‘Outperform’ from ‘Strong Buy’. Alibaba Group Holding Limited (NYSE:BABA) fell 0.5% this week. Ken Fisher’s Fisher Asset Management owned 14.1 million shares of Alibaba Group Holding Limited (NYSE:BABA) at the end of June, up 2% from the prior quarter.
6. Facebook, Inc. (NASDAQ:FB) was in the spotlight this week after the company said it will pause an effort to construct an Instagram designed for kids. Analysts are bullish, however, with Brad Erickson of RBC Capital initiating an ‘outperform’ rating and $425 price target this Thursday. Eagle Capital Management raised its position by 7% from the prior quarter to over 7.4 million shares in Facebook, Inc. (NASDAQ:FB) at the end of June.
Like Amazon.com, Inc. (NASDAQ:AMZN), Ford Motor Company (NYSE:F), Netflix, Inc. (NASDAQ:NFLX), Alibaba Group Holding Limited (NYSE:BABA), and Facebook, Inc. (NASDAQ:FB), Alphabet Inc. (NASDAQ:GOOG) and Exxon Mobil Corporation (NYSE:XOM) trended this week.
Click to continue reading and see Why These 5 Stocks Were in the Spotlight This Week.
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Disclosure: None. Why These 10 Stocks Were in the Spotlight This Week is published on Insider Monkey.
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