Top Stocks To Short Today As Markets Gain Amid Election Hopes

Despite no clear-cut winner in the long awaited US election, markets surged for the third consecutive day. Despite volatile overnight trading, The Dow Jones jumped 180 points, or 0.7%, and the S&P 500 gained 1.3%. Tech stocks led the overall market rally with the Nasdaq NDAQ popping 2.5%. Facebook, Amazon AMZN , Apple AAPL , Netflix NFLX , Alphabet and Microsoft MSFT all gained at least 3%. Although Trump claimed victory overnight, final tallies could take days to count and Biden currently holds the lead. After flipping Arizona, Biden just needs to win a few more states before claiming the minimum 270 electoral votes. Although uncertainty could still cause market volatility, investors seem relieved and optimistic. With political stability comes stimulus sooner rather than later. After recording its worst week since March last week, the markets have bounced back with major gains this week. While the election and the results will dominate attention for the foreseeable future, investors are also eagerly anticipating the FOMC announcement tomorrow, the October jobs reports on Friday, and more corporate earnings throughout the week. Although headwinds still remain, such as record COVID surges and shutdowns, optimism and relief is certainly the mood for the week. The deep learning algorithms at Q.ai have crunched the data to give you a set of Top Shorts. Our Artificial Intelligence (“AI”) systems assessed each firm on parameters of Technicals, Growth, Low Volatility Momentum, and Quality Value to find the best short plays.

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Conocophillips (COP)

Conocophillips COP is our first Top Short of the day. The Texas based energy conglomerate focuses on liquid natural gas, operates in 17 countries, and has production in the US, Norway, Canada, Australia, Timor-Leste, Indonesia, Malaysia, Libya, China, and Qatar. Our AI systems rated the company C in Technicals, F in Growth, D in Low Volatility Momentum, and D in Quality Value. The stock closed down 3.04% to $29.31 on volume of 12,128,622 vs its 10-day price average of $30.18 and its 22-day price average of $32.27, and is down 53.4% for the year. Revenue was $33346.0M in the last fiscal year compared to $29878.0M three years ago, Operating Income was $7435.0M in the last fiscal year compared to $2535.0M three years ago, EPS was $6.4 in the last fiscal year compared to $(0.7) three years ago, and ROE was 21.63% in the last year compared to (2.4%) three years ago. Forward 12M Revenue is expected to grow by 27.97% over the next 12 months, and the stock is trading with a Forward 12M P/E of 91.17.

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MORE FROM FORBESConocoPhillips (COP)

Enpro Industries Inc (NPO)

Manufacturing company Enpro Industries NPO is our next Top Short of the day. The company is an industrial conglomerate, and provides engineered industrial products for a wide variety of industries. Our AI systems rated Enpro D in Technicals, F in Growth, C in Low Volatility Momentum, and D in Quality Value. The stock closed up 2.63% to $62.5 on volume of 136,602 vs its 10-day price average of $60.54 and its 22-day price average of $60.02, and is down 6.31% for the year. Revenue grew by 1.25% over the last three fiscal years, while Operating Income grew by 4.39% over the last three fiscal years, and EPS grew by 458.79% in the last fiscal year. Revenue was $1205.7M in the last fiscal year compared to $1101.4M three years ago, Operating Income was $95.0M in the last fiscal year compared to $86.6M three years ago, EPS was $1.85 in the last fiscal year compared to $24.76 three years ago, and ROE was 0.88% in the last year compared to 82.12% three years ago. Forward 12M Revenue is expected to grow by 4.05% over the next 12 months, and the stock is trading with a Forward 12M P/E of 24.39.

MORE FROM FORBESEnpro Industries (NPO)

Spirit Aerosystems Holdings (SPR)

Spirit Aerosystems SPR  is our third Top Short of the day. The Kansas based company is the world’s largest first-tier aerostructures manufacturer, and builds components for Boeing BA aircrafts such as the 737’s fuselage, portions of the 787’s fuselage, and the cockpit for nearly all of Boeing’s airliners. Our AI systems rated the company C in Technicals, F in Growth, D in Low Volatility Momentum, and F in Quality Value. The stock closed up 5.47% to $19.86 on volume of 5,143,066 vs its 10-day price average of $19.08 and its 22-day price average of $19.1, and is down 73.23% for the year. Revenue was $7863.1M in the last fiscal year compared to $6983.0M three years ago, Operating Income was $816.4M in the last fiscal year compared to $597.2M three years ago, EPS was $5.06 in the last fiscal year compared to $3.01 three years ago, and ROE was 35.34% in the last year compared to 19.03% three years ago. Forward 12M Revenue is also expected to grow by 4.62% over the next 12 months.

MORE FROM FORBESSpirit AeroSystems (SPR)

Superior Industries Intl (SUP)

Motor vehicle parts and accessories manufacturer Superior Industries is our next Top Buy of the day. Our AI systems rated the company F in Technicals, D in Growth, C in Low Volatility Momentum, and D in Quality Value. The stock closed down 2.03% to $1.93 on volume of 4,362,966 vs its 10-day price average of $1.48 and its 22-day price average of $1.39, and is down 48.67% for the year. Revenue was $1372.49M in the last fiscal year compared to $1108.06M three years ago, Operating Income was $68.68M in the last fiscal year compared to $57.42M three years ago, EPS was $(5.1) in the last fiscal year compared to $(1.01) three years ago, and ROE was (20.29%) in the last year compared to (1.22%) three years ago. Forward 12M Revenue is also expected to grow by 19.43% over the next 12 months.

MORE FROM FORBESSuperior Industries International Inc. (SUP)

Terex Corp (TEX)

Terex Corp TEX is our final Top Short of the day. The company is a leading global manufacturer of lifting and material processing products. Our AI systems rated Terex C in Technicals, D in Growth, D in Low Volatility Momentum, and D in Quality Value. The stock closed up 5.83% to $27.6 on volume of 674,010 vs its 10-day price average of $25.83 and its 22-day price average of $24.97, and is down 8.52% for the year. Revenue was $4353.1M in the last fiscal year compared to $3793.7M three years ago, Operating Income was $335.1M in the last fiscal year compared to $232.9M three years ago, EPS was $0.76 in the last fiscal year compared to $1.36 three years ago, and ROE was 23.39% in the last year compared to 8.09% three years ago. Forward 12M Revenue is expected to grow by 7.21% over the next 12 months, and the stock is trading with a Forward 12M P/E of 25.05.

MORE FROM FORBESTerex (TEX)

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