Best Stocks To Short Today As Apple Keeps Dow Positive On Day

Friday morning was muted in the stock markets, with all the major indices little changed after the open. The week was trying to end on a record, as the S&P 500 hit new highs this week to mark an exceptionally fast recovery from the March 23 lows, gaining over 50%. Of course, the economy is causing much consternation amid the coronavirus pandemic and efforts to bring a new stimulus bill in Congress is not going well. There was July home sales data in this morning, and there was a record spike of 24.7% compared to prior month and median prices hit a new high of $304,100, providing some optimism in the housing sector. While some of the data is strong, COVID-19 is not going away anytime soon, especially without a vaccine. If you’re looking for places to short the market, Q.ai’s deep learning algorithms have used Artificial Intelligence (“AI”) technology to identify the Top Shorts today.

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Cinemark Holdings Inc (CNK)

First on the Top Short list today is Cinemark Holdings Inc with AI-based factor scores of C in Technical, D in Growth, D in Momentum Volatility, D in Quality Value. The stock has been pummeled this year, down 63.6%, but the momentum will likely continue to the downside. The company is the third- largest motion picture exhibitor in the United States. The company operates 4,568 screens in 37 states and 12 Latin American countries. As for the financials, Revenue was $3283.1M in the last fiscal year, which compares to $2991.55M three years ago. Operating Income was $407.4M in the last fiscal year versus $430.18M three years ago. EPS was $1.63 in the last fiscal year, less than the $2.26 three years ago. ROE was 13.57% in the last year, worse than the 19.86% three years ago. Forward 12M Revenue is expected to grow by 58.24%.

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MORE FROM FORBESCinemark Holdings (CNK)

Harsco Corp (HSC)

Next on the Top Short list is Harsco Corp HSC , as our deep learning algorithms have identified factor scores of D in Technical, F in Growth, D in Momentum Volatility, and C in Quality Value for the stock that has lost 37.92% for the year. The company provides industrial mill services to steel and nonferrous metal producers in more than 30 countries, including the United States. It also supplies gas-control and gas-containment products internationally, scaffolding services to the industrial maintenance and construction markets, and railway maintenance-of-way equipment and services. As for the financials, Revenue grew by 10.99% in the last fiscal year to $1503.74, which is a growth of 27.66% over the last three fiscal years from $1307.47 three years ago. EPS grew by 5949.47% over the last three fiscal years to $6.2 in the last fiscal, compared to $0.1 three years ago. Operating Income was $111.6M in the last fiscal year versus $109.58M three years ago. ROE was 6.62% in the last year, much better than the (1.58%) three years ago. Forward 12M Revenue is expected to grow by 15.57% and the stock is trading with a Forward 12M P/E of 23.15.

MORE FROM FORBESHarsco (HSC)

New York Mortgage Trust Inc (NYMT)

Another Top Short today is New York Mortgage Trust Inc with AI-based factor scores of D in Technical, D in Momentum Volatility, and D in Quality Value. The stock has lost ground this year to the tune of 57.23%, but more downside is expected. The company is a real estate investment trust for federal income tax purposes, in the business of acquiring, investing in, financing and managing mortgage-related and residential housing-related assets. As for the financials, revenue was $225.46M in the last fiscal year compared to $133.0M three years ago. Operating Income was $175.63M in the last fiscal year, which compares to $91.92M three years ago. EPS was $0.64 in the last fiscal year versus $0.66 three years ago. ROE was 10.21% in the last year, about flat when compared to 9.69% three years ago. The stock is trading with a Forward 12M P/E of 5.17.

MORE FROM FORBESNew York Mortgage Trust (NYMT)

Redfin Corp (RDFN)

Redfin Corp RDFN is our next Top Short with our deep learning algorithms assigning factor scores of C in Technical, F in Growth, D in Momentum Volatility, and D in Quality Value. The stock bucks the trend of this piece, as it has gained 117.43% for the year, providing short sellers with an attractive entry point. The company is an Internet-based real estate broker that notably pays its agents a salary as opposed to the traditional model of splitting a percentage of total commission, allowing it to charge home sellers a smaller fee to list. The financials are interesting and mixed, with revenue growing by 12.41% in the last fiscal year to $779.8M, a growth of 136.88% over the last three fiscal years from $370.04M three years ago. That’s about where the positivity ends. Operating Income shrank by -30.6% in the last fiscal year to a negative $(79.25)M, compared to $(15.97)M three years ago. EPS shrank by -16.95% in the last fiscal year to $(0.88) and shrank by -83.6% over the last three fiscal years from $(4.47). ROE was (22.98%) in the last year, worse than the (9.17%) three years ago. Forward 12M Revenue is expected to grow by 7.25%.

MORE FROM FORBESRedfin (RDFN)

Six Flags Entertainment Corp (SIX)

Our final Top Short today is a repeat on this column in Six Flags Entertainment Corp SIX . The company owns and operates theme parks worldwide. It operates around 25 theme parks and waterparks, 22 are located in the United States, two are located in Mexico and one is located in Montreal, Canada. The parks generally offer various rides, water attractions, themed areas, concerts, restaurants, game venues, and merchandise outlets. The company’s parks have an aggregate annual attendance of 46.5 million, but those numbers are all in normal times, not during a pandemic, so it will remain to be seen if the company can recover. The stock represents this, being down 57.26% for the year already. Our AI systems have identified factor scores of D in Technical, F in Growth, F in Momentum Volatility, and D in Quality Value. Revenue was $1487.58M in the last fiscal year, which compares to $1359.07M three years ago. Operating Income was $436.25M in the last fiscal year versus $469.41M three years ago. EPS was $2.11 in the last fiscal year, compared to $3.09 three years ago. ROE was 216.85% three years ago. Forward 12M Revenue is expected to grow by 66.0%, but that number is likely to be updated as coronavirus effects are managed.

MORE FROM FORBESSix Flags Entertainment Corp. (SIX)

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