1 Stock to Buy, 1 Stock to Sell This Week: Fortinet, Tesla

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Stocks Analysis by Investing.com (Jesse Cohen) covering: Nasdaq 100, S&P 500, Dow Jones Industrial Average, Tesla Inc. Read Investing.com (Jesse Cohen)'s latest article on Investing.com

U.S. jobs report, PMI surveys, Fed speakers will be in focus this week.Join InvestingPro for under $9 a month for a limited time only and never miss another bull market by not knowing which stocks to buy!The benchmark index rallied 10.2% in the first three months of the year for its best Q1 gain since 2019.

Now in its eighth year, shares of Fortinet tend to rally during the week of its annual ‘Accelerate’ event. At its last conference in April 2023, FTNT shares jumped after Xie highlighted new cybersecurity features and functions.FTNT stock ended Thursday’s session at $68.31, within sight of its 2024 peak of $73.91 reached on February 7. The Sunnyvale, California-based network-security firm has a valuation of $52.1 billion.

The Elon Musk-led EV pioneer is expected to have shipped around 457,000 vehicles in the first three months of the year, as per consensus estimates. It should be noted that Tesla shares plunged 29% in the first quarter to earn the dubious title of the worst performing stock in the S&P 500 during the first three months of 2024.

I regularly rebalance my portfolio of individual stocks and ETFs based on ongoing risk assessment of both the macroeconomic environment and companies' financials.

Source: News Formal (newsformal.com)

 

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