In Hollywood, there’s no such thing as bad publicity. And this adage just might apply to these buzzworthy stocks. For various reasons, the below enterprises have caught the attention of the media landscape. And it’s possible that the spotlight could help drive these names even higher.
To identify the most talked about stocks, I used the TipRanks screener. Under one of the filter options stands a metric entitled “Media Buzz.” Per the investment resource, this indicator covers the number of articles published about the underlying security in the most recent week versus its weekly average. In addition, I’m going to cover other factors such as analyst ratings and option market dynamics to hopefully give you the best ideas.
With that, below are the top trending stocks that could soar this week.
Harley-Davidson (HOG)
An American motorcycle icon, Harley-Davidson (NYSE:HOG) may seem to suffer a relevancy problem given the push for electrification and all. However, HOG is one of the most talked about stocks, per TipRanks. Browsing through my go-to resource Google Finance, I can see plenty of industry articles praising various Harley models. Still, that hasn’t helped HOG so far, with shares slipping over 18% since the January opener.
It’s possible, though, that circumstances may change for Harley. Looking at its options dynamic, I can see implied volatility (IV) spike in both directions: for strike prices far out of the money (OTM) and deep in the money (ITM) from the call holder’s perspective. Unsurprisingly given the heightened IV for HOG options, big block traders have sold both put and call contracts to advantage of the heightened premiums.
However, the institutional traders appear bullish given their sales of puts that expire in 2024 and 2025. Better yet, analysts seem to agree, pegging HOG a moderate buy with a $45.40 price target, implying over 35% growth. Possibly, that makes it one of the buzzworthy stocks to buy.
Sportsman’s Warehouse (SPWH)
A wildly controversial enterprise because of its sales of firearms, retailer Sportsman’s Warehouse (NASDAQ:SPWH) obviously stands on tricky ground. Nevertheless, TipRanks identified SPWH as one of the buzzworthy stocks. One of the main reasons was that the company released its fiscal second-quarter results. Frankly, it wasn’t pretty.
Per MarketWatch, SPWH stock stumbled as management revealed a sharp slowdown in same-store sales. Unsurprisingly, the options flow data – which filters for big block trades likely made by institutions – creamed SPWH with put acquisitions. However, these options also expire soon, on Sept. 15 to be exact. Once the dark cloud goes away, it’s possible (though hardly guaranteed) that SPWH could rise higher.
Also, keep in mind the political dynamic. If Democrats have the advantage of the crisis of identity that the Republicans are going through, the blue team might control the White House again. That’s great for gun control and cynically good for gun sales based on the subsequent panic.
Also, analysts peg SPWH as a moderate buy with a $5.67 price target, implying over 69% upside. Thus, it’s one of the trending stocks to consider.
ChargePoint (CHPT)
Another entity among buzzworthy stocks per TipRanks, ChargePoint (NYSE:CHPT) got the spotlight for unpleasant news. Sadly, CHPT slumped to the tune of nearly 21% last week. The culprit? A poor earnings report did the business. Basically, management guided Q3 revenue to land between $150 million and $165 million. However, Wall Street projected about $178 million, per Barron’s.
Still, all hope might not be lost. As some analysts argued, the U.S. needs to dramatically boost the number of charging ports. Otherwise, the burgeoning electric vehicle market may suffer a chicken-and-egg problem. Basically, the EV transition can’t occur without robust charging infrastructure.
Looking at ChargePoint’s options dynamic, the heightened IV in the deep ITM direction possibly indicates mitigation for tail risk; that is, a black swan event. However, traders also appear long-term bullish given the rising IV for OTM contracts.
Enticingly, analysts overall peg CHPT as a consensus strong buy. Their average price target stands at $11.43, implying nearly double the current price. Thus, it’s one of the most talked about stocks worth speculating on if you have some loose change.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
