Financial services Titan JPMorgan Chase suddenly becomes Bearish on the shares of popular technology and restaurant companies such as the S&P 500 hits record highs.
JPMorgan analysts say that various great shares seem to be overvalued and perhaps smart short circuits are for investors, report Barron’s.
JPMorgan analyst Ryan Brinkman says that Tesla (TSLA) currently has a “towering appreciation” and expects that the income plummet after President Trump has reduced the government subsidies for purchases of electric vehicles. Brinkman also predicts that the Robo-Taxi initiative of Tesla “will probably disappoint”.
He is also Bearish on Tesla’s rival Rivian Automotive (RIVN). According to Brinkman, the efforts of the company will probably be improved ” [be] Hindered by reduced EV subsidies and rates. “
Subsequently, JPMorgan analyst KennThington Circle Internet Group (CRCL), the Stablecoin -Eemittent, is due to a correction.
“Circle is a market leader in Stablecoins with great technology, we see competition coming up and the current appreciation as excessive.”
By continuing to the social media sector, says JPMorgan analyst Doug Anmuth that Snapchat (Snap) is confronted with continuous obstacles, including the “volatile” editions of large brand advertisers, as well as the “poor track record of the company record on the performance”.
Bumble (BMBL) also earns a Bearish -by -view, because JPMorgan analyst Cory Carpenter says that the Dating -app shares are “structurally challenged” online dating sector, and the company “is early in its Turnaround effort.”
Other JPMorgan analysts shares say that it should be one of the best candidates for investors to look for corrections, the restaurant chain Cheesecake Factory (cake), Chipmaker Intel (Intc) and fast food chain Shak Shak (Shak).
From the end of Monday, the S&P 500 will be traded on record highs at 6,286 points.
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