Stocks Under $50: ANF, BJRI, and AMRK Gain Up to 33.38%
Caleres Inc. (CAL)
Caleres Inc. is one of the biggest footwear companies in the United States operating various footwear brands. Current brands include Famous Footwear, Naturalizer, Dr. Scholl’s Shoes, LifeStride, Bzees, Rykä, Sam Edelman, Allen Edmonds, Franco Sarto, Via Spiga, Vince, Diane von Furstenberg (DVF), George Brown Bilt, Carlos by Carlos Santana and Fergie Footwear. Its headquarters is located in Clinton, Missouri at St. Louis.
Over the past week CAL has shown outstanding growth in its stock price as I Know First predicted in their 3 days stock predictions for stocks under 50$. CAL was the top performing prediction from this package achieving 33.38% returns. According to the company’s second quarters reports, there was an increase of more than 30% in the company’s total eCommerce related sales, with total company eCommerce penetration rising to nearly 34 percent of net sales. This phenomenal increase might have been a result of COVID-19 as most people are now shopping online rather than shopping in-store. Therefore, since CAL is one of the most well-known online footwear retailers and wholesalers, the demand on its products increased in the last few months as people are obligated to purchase items online. Another contributing factor to this increase is that now school is approaching, and people are restocking for the new academic year, therefore this might also be one of the leads to a higher sales for CAL.
Bloomin’ Brands Inc. (BLMN)
Bloomin’ Brands Inc. is a restaurant holding company that owns distinct restaurant chains. These are casual dining chains such as Bonefish Grill, Carrabba’s Italian Grill, Fleming’s Prime Steakhouse & Wine Bar, Outback Steakhouse and Roy’s. The company owns 1,450 in 48 states and 20 countries.
BLMN was the second highest performing stock in I Know First 3 days’ package prediction with a return of 15.58%. For the past few days, BLMN stock price has been experiencing a great growth due to various reasons. For instance, in the past few days, analysts have publicized that the price of BLMN is undervalued, which caused a huge boost in the stock price according to Yahoo Finance. Another reason for the increase in stock price is that restaurants in the United States started re-opening for dining-in opportunities, which helps BLMN advance their sales as the business is heavily dependent on dining in and not on takeouts. Therefore, due to these re-openings, the demand and the sales for Bloomin’ Brands started going back to normal causing an advancement in the price of shares. In addition to that, Deutsche Bank has updated the public that BLMN shares have 40% upside in the next 12-18 months, which was then agreed upon by Raymond James.
AMC Entertainment Holdings Inc. (AMC)
AMC is the biggest movie theater chain in the world, operating in the United States. The headquarters is in Leawood, Kansas and has been founded since 1920. AMC has 2,200 screens in 244 theaters in Europe and over 8,200 screens in 661 theaters in the United States, and after a few acquisitions it became the largest movie theater in the world and in the United States.
AMC has come in the third spot in I Know first 3 days’ package prediction with a return of 11.75%. In April, during the peak of COVID-19 in the United States, AMC wasn’t expected to open until 2021 due to lack of liquidity and the approaching of bankruptcy which started to appear even before the start of Covid-19. However, in August, AMC decided to apply a new promotion on its tickets price to try to attract more customers and boost the sales. They named the promotion as “Movies in 2020 at 1920 prices” and they sold tickets for 0.15 cents a ticket which allowed them to attract a lot of customers from different social classes leading to a growth in the price of their stock.
I Know First Algorithmic Forecast for Stocks Under $50
The I Know First algorithm was able to predict the strong increase in these stocks under $50 price movements due to a variety of factors including the strong results discussed above and ability to navigate through the coronavirus. On August 30, I Know First issued a bullish 3-day forecast for CAL, BLMN and AMC, with a signals from 1.26 to 1.82 and a predictability indicator ranging from 0.15 to 0.19. The forecast issued in this article was issued as a part of the Stocks Under $50 Package.
Algorithmic traders utilize these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster. This forecast was sent to current I Know First subscribers.
Please note – for trading decisions use the most recent forecast.
