If you ever feel intimidated by trading and trying to pick stocks yourself, we understand your confusion and would like to help. The first half of 2020 was a wild ride for traders, between a short-lived bear market and an ensuing record-setting recovery, with unprecedented volatility in between.
The next section mentions 3 trades that could bring millions to traders in the second and third quarters of 2020.
Amazon: from 2178 to 2407 in 4 days
Needless to say, Amazon, the online retailer, and cloud computing heavyweight, the market’s capitalization has ballooned by over $90 billion. It recorded many highs since mid-February bringing profit to its traders.
According to data from Refinitiv, 49 of the 51 analysts, who followed Amazon, have the stock rated a “buy”, while two have it as a “hold”.
Wall Street analysts are typically very bullish when it comes to large-cap companies, but this level of near-unanimous approval is almost unheard of.
Nvidia: from 506.16 to 552.57 in 3 days
The coronavirus pandemic has been a tailwind for Nvidia in more ways than one. The chipmaker has seen a huge jump in demand for its graphics cards, which are used for various applications, including video gaming and data centers.
Interest in video games has spiked up significantly in 2020, as people under lockdown were confined to their homes, and has been looking for ways to keep themselves entertained.
Zoom: from 168 to 204 in 5 days
Zoom Video Communications is a software company that took a place among the best-performing stocks in 2020. So far, the stock has a year-to-date gain of 606 percent.
The stock has risen over 13 times from its IPO price of $36, this is due to its increasing popularity among companies and professionals who started working from home and needed a reliable video communications provider. Now the real question is, will Zoom stock continue to rally?
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