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3 Top Stocks to Buy in April
Hope springs eternal this time of year, and the same can be said about the right stocks. I see some compelling bullish arguments to be made for many of my favorite stocks right now, making them stocks you should consider taking a closer look at in April and beyond.
Lovesac (LOVE +23.74%), Disney (DIS 0.18%), and Netflix (NFLX +0.84%) are interesting companies selling at compelling price points. Let’s see why I think these are three stocks that you may want to buy in the month ahead.
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NASDAQ: LOVE
Lovesac
Today’s Change
(23.74%) $2.68
Current Price
$13.97
Key Data Points
Market Cap
$165M
Day’s Range
$13.29 - $14.41
52wk Range
$10.33 - $21.90
Volume
681K
Avg Vol
274K
Gross Margin
54.99%
The furniture market may seem like an odd place to start a list of stocks to buy in April. The country’s leading online furniture retailer – not Lovesac – has cranked out seven consecutive quarters of negative top-line growth, and analysts see another top-line dip this year. The housing market has cooled, and high interest rates make it more challenging to make big-ticket purchases. Some operators in this niche are still finding ways to grow in this climate, so pull up a premium beanbag chair – or a high-tech sectional.
Lovesac is a refreshingly resilient player in an otherwise problematic market. It makes luxury beanbag chairs, including some large enough to seat an entire young family. It also makes next-gen sectionals that can be easily pieced together with home theater equipment buried deep in the cushions.
Image source: Lovesac.
Lovesac has been a rock star, posting better than 30% annual revenue growth for six consecutive years. The streak will likely end this year, but Lovesac has momentum on its side. The stock jumped higher this week after posting blowout financial results. Revenue rose a better-than-expected 22% in its fiscal fourth quarter. Earnings also topped Wall Street profit targets, but it was a decline.
Fresh guidance calls for revenue gains to slow to a 7% to 14% clip for the new fiscal year. I warned you that its string of 30% or more annual sales growth was likely coming to an end. Lovesac’s projected profit of $1.83 to $2.24 a share is also only marginally higher than last year’s showing.
It’s still impressive to see Lovesac growing when the furniture sector is out of favor. Just imagine how Lovesac will spring to life when consumers are ready to spend more to be comfortable around the house. In the meantime, you can pick up shares for less than 14 times the midpoint of this new fiscal year’s earnings guidance.
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NYSE: DIS
Walt Disney
Today’s Change
(-0.18%) $-0.17
Current Price
$95.78
Key Data Points
Market Cap
$170B
Day’s Range
$95.10 - $96.39
52wk Range
$80.10 - $124.69
Volume
94K
Avg Vol
12M
Gross Margin
31.61%
Dividend Yield
1.30%
Mickey Mouse isn’t messing around. Disney just started a round of layoffs that will trim 7,000 jobs from its payroll. It’s part of a broader effort to shave $5.5 billion in annual overhead and turn Disney+ profitable in the next 18 months. Boomerang CEO Bob Iger committing to turn Disney’s bottom line around is ambitious, and the possibility that it can streamline its operations without sacrificing top-line gains is impressive.
Disney won’t announce its fiscal second-quarter results until May, but it will host its annual shareholders meeting early next week. Iger’s first shareholder meeting in years should be special. The media giant has done a good job of bouncing back from the global pandemic crisis. Its theme parks are generating record operating results. The two highest-grossing films at the box office this year belong to Disney, and it scored three of the top four last year. Its streaming businesses keep growing, offsetting the sluggish ways of its legacy networks.
It’s surprising to see that Disney is in a good groove – layoffs notwithstanding – but the shares are trading for less than half of the all-time highs hit two years ago. With analysts jacking up future earnings targets, Disney is now trading for less than 18 times next fiscal year’s projected profits.
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NASDAQ: ROKU
Roku
Today’s Change
(-1.64%) $-1.56
Current Price
$93.50
Key Data Points
Market Cap
$14B
Day’s Range
$93.22 - $95.62
52wk Range
$52.43 - $116.66
Volume
13K
Avg Vol
3.4M
Gross Margin
43.79%
Finally we end on a stock that will be reporting a financial update in April. Netflix will serve up its first-quarter results after the market close on April 18.
Founder, CEO, and recent co-CEO Reed Hastings is moving on, but Netflix should fare well in its first financial update since his departure announcement. It expects to nearly double its free cash flow to $3 billion this year. Rolling out discounted but ad-supported tiers should make the service viable for more viewers. Cracking down on password sharing is controversial, but you can’t blame Netflix for protecting its turf and growing revenue in the process.
Netflix shares rose more than 8% the day after its last earnings report, and that’s roughly where the shares are now. What will happen if April delivers another blowout performance? With streaming services stocks struggling to strike the right balance between subscriber growth and profitability, Netflix has cracked the code.