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Benzinga Pro's Top 5 Stocks To Watch For Wednesday, December 7, 2022: BABA, AMC, NXST, PLAY, AERC

Author: Benzinga Newsdesk | December 07, 2022 09:06am
  • Alibaba (BABA) - A play on China's version of Amazon (AMZN). US-traded China-based stocks rallied over the last week following the paring back of some COVID restrictions in China. Chatters in Benzinga Pro's lounge chat expressed their expectation for Alibaba shares to pullback next week following this week's rally. One chatter noted the $91.50 resistance level in Alibaba shares was a "tough" technical level for the stock to get over.

  • AMC Entertainment (AMC) - A top-3 meme stock. Peer in the meme stock space, GameStop (GME), will report quarterly results after the close Wednesday. Shares of AMC and GameStop remain correlated given interest in the names by retail investors.

  • Nexstar Media (NXST) - A play on the TV cable network space. Peer in the space, Paramount (PARA), gave a warning on its Q4 advertising sales on Tuesday. Shares of Paramount fell 7% on the news Tuesday.

  • Dave & Buster's Entertainment (PLAY) - Analysts at Raymond James called Dave & Buster's shares "undervalued" Wednesday morning following the company's better-than-expected quarterly sales Tuesday afternoon. Despite what Raymond James described as a "strong" third quarter, shares of Dave & Buster's sold off about 3% on Tuesday.

  • AeroClean Technologies (AERC) - A play on FDA clearance of the company's air purifier to include an indication to remove the SARS-CoV-2 virus from environments. Shares were up about 5% on the news Wednesday morning.

Posted In: AERC AMC AMZN BABA GME NXST PARA PLAY

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