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First Read with Strategic Tech Investor: Here’s What’s Happening This Week

0 | By Strategic Tech Investor Staff

Stocks swung higher on Friday, but if you were following along with us, you knew not to expect much to come of that. Sure enough, markets are heading lower once again, across the board, this morning.

But, once again, Michael says it’s important to keep things in perspective; the biggest decliners aren’t the economy-driving FAANG stocks but smaller, more volatile companies that can’t absorb inflationary costs or service debt at higher interest rates.

Make sure you’re up to date on all Michael’s recent recommendations, including this recent profit-protecting strategy he published this weekend.

Earnings to Watch

On Wednesday, May 18, Northrup Grumman Corp. (NOC) releases earnings. Northrop just turned in positive Q1 results, beating estimates by 2.35%. Michael thinks, when it comes to defense, investors should be casting a wide net – like this play here.

Strategic Tech Updates

U.S. Plans $52 Billion in Funding for Semiconductor Capacity

The past few years of intense international competition and incredibly tight supply have made it starkly clear to even the most intransigent politician that the United States must boost its domestic computer chip manufacture. There is a plan to accomplish this, but the usual arguments over the funding continue, and it could be months before any deal materializes. Before that deal is closed in Congress, make sure you own this stock…

Crypto Exchange Founder Takes $482 Million Stake in Robinhood

Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, revealed a 7.6% stake in the discount brokerage. The market reacted favorably, and the stock jumped 20% in premarket trading. The no-fee stock and cryptocurrency platform Robinhood Markets Inc. (HOOD) is down 69% since it came on the market less than a year ago. We recently covered more on this pick here – we’re getting close to the buying point.

Cheers and good investing,

The Strategic Technology Investor Team

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