If it’s not the coronavirus driving markets batty, it’s tension with China.
“Some wacko in China just released a statement blaming everybody other than China for the Virus which has now killed hundreds of thousands of people. Please explain to this dope that it was the “incompetence of China”, and nothing else, that did this mass Worldwide killing,” tweeted President Trump.
China then suggested the U.S. might be the real source of the pandemic. China has also said the U.S. is trying to shift blamed for the U.S. mishandling of the COVID-19 crisis, says Reuters.
On top of that, the U.S. just passed the Holding Foreign Companies Accountable Act, which “requires certain issuers of securities to establish that they are not owned or controlled by a foreign government. Specifically, an issuer must make this certification if the Public Company Accounting Oversight Board is unable to audit specified reports because the issuer has retained a foreign public accounting firm not subject to inspection by the board.”
There’s also a big concern we could see new waves of tariffs months before elections.
As we wait to see what happens next, here’s what’s piquing our interest.
Opportunity No. 1- Fiverr International (FVRR)
We’ve highlighted this opportunity in prior reports, and still believe it could run to higher highs. Remember, with many people now out of work because of the coronavirus, the company has seen a record number of new freelancers signing up for its services. FVRR has also added new categories for working and learning from home. Better, FVRR just expanded internationally with global marketplaces launched in a few languages including German, French, and Spanish.
Opportunity No. 2 – Activision Blizzard (ATVI)
With new consoles hitting shelves later this year, SunTrust Robinson Humphrey analysts have a buy rating on the stock, noting strong execution for recent releases like World of Warcraft Classic, Call of Duty: Mobile and Call of Duty: Modern Warfare. Video games have also gained traction with “stay at home” orders.
Opportunity No. 3 – Slack Technologies (WORK)
With more companies allowing people to work from home, it’s a sizable catalyst for WORK.
Plus, according to a CNBC survey,”83% of tech workers say they’ve been able to work from home in recent weeks, and many want their new routines to stick. More than a quarter (27%) say they’ll want to work from home all the time from now on, and 36% say they’ll want to work from home more often than they used to. Just 5% say they’ll want to work from home less often than they had previously, and a mere 2% never want to work from home again.”
