Top Stocks To Short Today As Post-Election Rally Continues

Despite no clear-cut winner in the long awaited U.S. election, markets surged for the fourth day in a row. Today’s gains now put the indices on pace for their biggest weekly gains since April, when the Dow was up more than 6%, and the S&P 500 and Nasdaq NDAQ were up 7.1% and 8.2%, respectively. Today, led by tech and strong earnings from companies such as Qualcomm QCOM and General Motors GM , the Dow gained 613 points, or 2.2%, while the S&P 500 climbed 2.4% and the Nasdaq advanced 2.6%. Although there is still no winner in the election, and further contesting is very possible, Joe Biden looks to be the frontrunner and is just one state away from winning the minimum electoral votes. Tech stocks led the overall market rally, with Facebook and Alphabet both trading over 2% higher, and Amazon AMZN , Microsoft MSFT and Apple AAPL gaining more than 3% each. Qualcomm’s stock also popped more than 11%, and General Motors gained 3.4%. Although more election uncertainty could cause market volatility, investors seem relieved and optimistic. With political stability comes stimulus sooner rather than later. While the election and the results will dominate attention for the foreseeable future, investors are also eagerly anticipating the FOMC announcement today and the October jobs reports tomorrow. Sentiment is euphoric and relieved right now, however headwinds still remain. Do not forget that COVID continues surging, and more shutdowns around the world are being reimposed. Greece just today reimposed lockdown measures, for example. 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 U.S., 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 up 3.65% to $30.38 on volume of 15,178,360 vs its 10-day price average of $30.15 and its 22-day price average of $32.11, and is down 51.7% 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 24.97% over the next 12 months, and the stock is trading with a Forward 12M P/E of 229.63.

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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 down 2.32% to $61.05 on volume of 90,962 vs its 10-day price average of $60.5 and its 22-day price average of $60.1, and is down 8.48% for the year. Operating Income grew by 2.66% over the last three fiscal years, while EPS grew by 413.64% 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 4.95% over the next 12 months, and the stock is trading with a Forward 12M P/E of 23.46.

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 down 0.5% to $19.76 on volume of 3,795,359 vs its 10-day price average of $19.16 and its 22-day price average of $19.13, and is down 73.37% 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 10.04% 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 4.15% to $1.85 on volume of 1,529,314 vs its 10-day price average of $1.51 and its 22-day price average of $1.41, and is down 50.8% 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 down 9.64% to $24.94 on volume of 875,843 vs its 10-day price average of $25.67 and its 22-day price average of $25.01, and is down 17.34% 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 22.63.

MORE FROM FORBESTerex (TEX)

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