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The Zacks Analyst Blog Highlights: MJIN, NRGD, WANT, BZQ and MJ
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For Immediate Release
Chicago, IL – November 23, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Etfs recently featured in the blog include: Etfmg 2X Daily Inverse Alternative Harvest ETF , Microsectors -3X U.S. Big Oil Index ETN (NRGD - Free Report) , Consumer Discretionary Bull 3X Direxion (WANT - Free Report) , Ultrashort MSCI Brazil Capped ETF (BZQ - Free Report) and ETFMG Alternative Harvest ETF (MJ - Free Report) .
Here are highlights from Monday’s Analyst Blog:
4 Best-Performing Inverse/Leveraged ETFs of Last Week
Wall Street was mixed last week with the S&P 500 (up 0.32%), the Dow Jones (down 1.4%), the Nasdaq Composite (up 1.24%) and the Russell 2000 (down 2.85%) displaying a mixed performance. New COVID-19 restrictions overseas weighed on the broader market at the end of the week, solid retail earnings, monthly retail sales data and investors’ love for technology amid the renewed lockdown fears boosted the Nasdaq meaningfully.
The Nasdaq Composite reported 46th record close of 2021 on Nov 19. By now we all know, Internet and tech stocks are pandemic winners as these have less to do with human contact. The coronavirus scare favored the online retailing industry as any kind of lockdown and self-imposed quarantine give a boost to demand for online shopping and other kinds of Internet activities.
Against this backdrop, below we highlight best-performing inverse/leveraged ETF areas of last week that include Etfmg 2X Daily Inverse Alternative Harvest ETF, Microsectors -3X U.S. Big Oil Index ETN, Consumer Discretionary Bull 3X Direxion and Ultrashort MSCI Brazil Capped ETF.
Inverse Marijuana
Etfmg 2X Daily Inverse Alternative Harvest ETF – Up 34.7%
Cannabis stocks recorded a five-day losing streak, as legalization efforts at the federal level in the United States seemed to have wavered. The largest fund tracking the pot industry, ETFMG Alternative Harvest ETF, slipped to its lowest price since last year and is down 60% from its high in February. Notably, marijuana stocks had jumped before this month on legalization hopes. Now, a losing hope is eating away all the previous gains.
Consumer Discretionary
Consumer Discretionary Bull 3X Direxion – Up 11.5%
The retail space is seemingly a hot one as the sector is seeing strong earnings reports and sales momentum. The upbeat holiday season sales forecasts are acting as the icing on the cake. The retail sales rose 1.7% in October (the largest surge since March), beating economists’ estimate of a 1.4% rise. This, in turn, marked a 16.3% increase from the year-ago figure. The metric rose for three months in a row. Online sales rose 10.2% from the year-ago level.
Plus, according to the National Retail Federation, holiday season sales in 2021 are projected to surpass all existing records during November and December and rise 8.5-10.5% year over year to between $843.4 billion and $859 billion.
Inverse Brazil
Ultrashort MSCI Brazil Capped ETF – Up 11.5%
Concerns over Brazil's fiscal situation have been weighing on the markets, while traders are increasingly worried about the prospect of renewed lockdowns due to the resurgence of COVID-19 infections, particularly in Europe. During the week, the key Brazilian stock index booked losses of over 3%, snapping two successive weeks of gains.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: MJIN, NRGD, WANT, BZQ and MJ
For Immediate Release
Chicago, IL – November 23, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Etfs recently featured in the blog include: Etfmg 2X Daily Inverse Alternative Harvest ETF , Microsectors -3X U.S. Big Oil Index ETN (NRGD - Free Report) , Consumer Discretionary Bull 3X Direxion (WANT - Free Report) , Ultrashort MSCI Brazil Capped ETF (BZQ - Free Report) and ETFMG Alternative Harvest ETF (MJ - Free Report) .
Here are highlights from Monday’s Analyst Blog:
4 Best-Performing Inverse/Leveraged ETFs of Last Week
Wall Street was mixed last week with the S&P 500 (up 0.32%), the Dow Jones (down 1.4%), the Nasdaq Composite (up 1.24%) and the Russell 2000 (down 2.85%) displaying a mixed performance. New COVID-19 restrictions overseas weighed on the broader market at the end of the week, solid retail earnings, monthly retail sales data and investors’ love for technology amid the renewed lockdown fears boosted the Nasdaq meaningfully.
The Nasdaq Composite reported 46th record close of 2021 on Nov 19. By now we all know, Internet and tech stocks are pandemic winners as these have less to do with human contact. The coronavirus scare favored the online retailing industry as any kind of lockdown and self-imposed quarantine give a boost to demand for online shopping and other kinds of Internet activities.
Against this backdrop, below we highlight best-performing inverse/leveraged ETF areas of last week that include Etfmg 2X Daily Inverse Alternative Harvest ETF, Microsectors -3X U.S. Big Oil Index ETN, Consumer Discretionary Bull 3X Direxion and Ultrashort MSCI Brazil Capped ETF.
Inverse Marijuana
Etfmg 2X Daily Inverse Alternative Harvest ETF – Up 34.7%
Cannabis stocks recorded a five-day losing streak, as legalization efforts at the federal level in the United States seemed to have wavered. The largest fund tracking the pot industry, ETFMG Alternative Harvest ETF, slipped to its lowest price since last year and is down 60% from its high in February. Notably, marijuana stocks had jumped before this month on legalization hopes. Now, a losing hope is eating away all the previous gains.
Consumer Discretionary
Consumer Discretionary Bull 3X Direxion – Up 11.5%
The retail space is seemingly a hot one as the sector is seeing strong earnings reports and sales momentum. The upbeat holiday season sales forecasts are acting as the icing on the cake. The retail sales rose 1.7% in October (the largest surge since March), beating economists’ estimate of a 1.4% rise. This, in turn, marked a 16.3% increase from the year-ago figure. The metric rose for three months in a row. Online sales rose 10.2% from the year-ago level.
Plus, according to the National Retail Federation, holiday season sales in 2021 are projected to surpass all existing records during November and December and rise 8.5-10.5% year over year to between $843.4 billion and $859 billion.
Inverse Brazil
Ultrashort MSCI Brazil Capped ETF – Up 11.5%
Concerns over Brazil's fiscal situation have been weighing on the markets, while traders are increasingly worried about the prospect of renewed lockdowns due to the resurgence of COVID-19 infections, particularly in Europe. During the week, the key Brazilian stock index booked losses of over 3%, snapping two successive weeks of gains.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.