Wednesday was Inauguration Day, and there’s a related play WealthPress trader Jeff Yastine has been watching… And he’s excited to say it started to break out this week.
He’s had to wait and wait, but it’s finally taking off as Joe Biden moves into the White House — and it’s just the start of a big move.
In fact, there are a lot of stocks that aren’t at all-time highs that have strong value… and they’re now ready to run higher in the coming months.
A Health Insurance Marketplace Stock Primed to Zoom
Today’s health insurance marketplace stock is on track to nearly double its earnings per share (EPS) over the next two years, but it’s trading at a low valuation. The case for entering a position has been there since Election Day, when I first told WealthPress subscribers about it.
But with the stock up as much as 9% Wednesday and another 4.5% at 10 a.m. EST Thursday, it looks like all it needed was a catalyst — Biden’s inauguration — to finally begin its move up.
This company is profitable, has a good business model and its EPS is rising, but it’s still depressed. That’s because there was so much uncertainty regarding the 2020 election, particularly around what would happen with Obamacare depending on who won.
The platform is a good way to look at pricing from different health insurance providers, and to browse the plans they offer.
It’s currently trading around $82, but looks to be marching toward its all-time highs of $134 over the next year to year-plus. This is of course just a projection, but if you look at what analysts expect its earnings and EPS to be, it’s a reasonable conclusion to arrive at.
If you’re looking for another post-inauguration play, check out this defense stock Jeff discussed Tuesday.
Check out Jeff’s short video and let’s dive into today’s top health insurance marketplace stock. Don’t forget to leave your thoughts and questions in the comments!
P.S. The media is buzzing about President Joe Biden’s inauguration and what a Democratic-controlled government could mean for the U.S. economy and Wall Street.
Any time big news like this breaks, it has the potential to impact stocks and cause market volatility. And this new “changing of the guard” couldn’t come at a more tenuous time.
I’ve been warning my readers for weeks that the broader indexes look overstretched… meaning they could snap back at any moment into a correction.
I’m not saying this is going to be the catalyst that shakes up the market, but it doesn’t hurt to start preparing now for a changing climate.
To get you started, I’ve teamed up with expert trader Tom Busby to bring you a timely training seminar. In it, we’ll show you how to spot stocks set to climb — regardless of headline news or market volatility.