Top Stocks To Short Today As Tech Attempts A Rebound

Mega-cap tech stocks like Apple and Microsoft have seen noticeable declines in share prices over the month of September, and this week was no different, although Friday has seen a bounce in the early morning trading. Shares of Apple, which is the largest publicly traded company in the U.S. by market cap, have tumbled more than 19%. With the Dow down 5.7% this month alone, investors are watching closely for any signs of economic recovery. That could come in the form of a $2.4 trillion relief package that should be voted on by House Democrats next week, if they can come to an agreement in Congress. For investors looking to make sense of these interesting times and take advantage, 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 Technical, Growth, Momentum Volatility, and Quality Value to find the best long plays.

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Carvana Co (CVNA)

First on our list of Top Shorts is Carvana Co, the online auto retailer. Our AI systems rated Carvana a C in Technical, D in Growth, D in Momentum Volatility, and F in Quality Value. Carvana closed down 4.72% to $208.35 on volume of 1,565,508 vs its 10-day price average of $185.23 and its 22-day price average of $194.58. The stock is up 114.9% for the year, but may have overextended itself as our deep learning algorithms think it will head lower from here. Revenue grew by 12.06% in the last fiscal year, and grew by 414.05% over the last three fiscal years. EPS fell by -25.0% over the last three fiscal years. Revenue was $3939.9M in the last fiscal year, compared to $858.87M three years ago. Operating Income was $(272.53)M in the last fiscal year, compared to $(155.31)M three years ago. EPS was $(2.45) in the last fiscal year, compared to $(4.23) three years ago. ROE was (173.9%) in the last year, compared to (200.9%) three years ago. The stock’s Forward 12M Revenue is expected to grow by 25.35% over the next 12 months.

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JC Penney Co (JCPNQ)

Next on our list of Top Shorts is JC Penney Co. This department store chain has locations all throughout the United States and Puerto Rico. Our AI systems rated Penney a F in Technical, C in Growth, D in Momentum Volatility, and D in Quality Value. The retailer may be in trouble here, according to our deep learning algorithms, as the stock closed up 3.98% to $0.2662 on volume of 3,953,880 vs its 10-day price average of $0.28 and its 22-day price average of $0.26. The stock is down 76.23% for the year. Revenue was $11167.0M in the last fiscal year, compared to $12873.0M three years ago. Operating Income was $66.0M in the last fiscal year, compared to $280.0M three years ago. EPS was $(0.84) in the last fiscal year, compared to $(0.38) three years ago. ROE was (26.81%) in the last year, compared to (8.62%) three years ago.

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Navistar International Corp (NAV)

Third on our list of Top Shorts is Navistar International Corp. The company manufactures engines and commercial vehicles, as well as defense vehicles. Our AI systems have rated Navistar a D in Technical, F in Growth, D in Momentum Volatility, and C in Quality Value. The stock closed up 0.86% to $43.23 on volume of 546,715 vs its 10-day price average of $42.8 and its 22-day price average of $38.23. The stock is up 51.47% for the year. Revenue was $11251.0M in the last fiscal year, compared to $8570.0M three years ago. Operating Income was $667.0M in the last fiscal year, compared to $380.0M three years ago. EPS was $2.22 in the last fiscal year, compared to $0.32 three years ago. The stock’s Forward 12M Revenue is expected to grow by 13.26% over the next 12 months, and it’s trading with a Forward 12M P/E of 31.19.

MORE FROM FORBESNavistar International (NAV)

Ovintiv Inc (OVV)

Fourth on our list of Top Shorts is Ovintiv Inc, a hydrocarbon exploration and production company headquartered in Denver, CO. Our AI systems rated Ovintiv a C in Technical, F in Growth, F in Momentum Volatility, and F in Quality Value. The stock closed up 4.16% to $11.78 on volume of 901,306 vs its 10-day price average of $12.25 and its 22-day price average of $13.14. The stock is down 61.75% for the year. Revenue grew by 58.94% over the last three fiscal years. Revenue was $7013.0M in the last fiscal year, and compares to $3892.0M three years ago. Operating Income was $729.0M in the last fiscal year, compared to $1074.0M three years ago. EPS was $0.9 in the last fiscal year, compared to $4.25 three years ago. ROE was 2.69% in the last year, compared to 12.87% three years ago.

OvintivHome – Ovintiv

Synchronoss Technologies (SNCR)

Last on our list of Top Shorts is Synchronoss Technologies. This technology company provides cloud and software solutions for connected devices. Our AI systems rated the company a D in Technical, D in Growth, F in Momentum Volatility, D in Quality Value. The stock closed down 5.79% to $3.09 on volume of 1,203,002 vs its 10-day price average of $3.61 and its 22-day price average of $3.96. The stock is down 43.92% for the year. Operating Income fell by -14.93% in the last fiscal year, and declined by -18.29% over the last three fiscal years. EPS fell by -22.95% in the last fiscal year. Revenue was $308.75M in the last fiscal year, compared to $402.36M three years ago. Operating Income was $(100.76)M in the last fiscal year, compared to $(104.9)M three years ago. EPS was $(3.36) in the last fiscal year, compared to $(2.45) three years ago. ROE was (31.0%) in the last year, compared to (37.21%) three years ago.

MORE FROM FORBESSynchronoss Technologies (SNCR)

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