This AI model sees upside for Carvana and Meta Platforms in next month
An AI-based model for stock picking is bullish on several tech names and consumer brands over the next month. IFi AI is an investment firm that uses IBM’s Watsonx to help make projections about the short-term directions of stocks. The program, a cloud-based commercial AI and scientific data platform, uses fundamental data, technical patterns and news as some of its inputs. The program scored a big win last month when it predicted big upside for Marathon Oil , which soon after struck a deal to be acquired by ConocoPhillips at a healthy premium. The stocks below are the highest upside stocks for the next 30 days in iFi’s top confidence category that have a market cap of at least $2 billion. Marathon Digital is a holdover pick from less than two weeks ago. The bitcoin miner hasn’t popped yet, with shares down about 1% month to date, but iFi still sees upside of nearly 40%. The second biggest upside pick appears to be more of a momentum play. Shares of Carvana have more than doubled this year, as the used car seller seems to have stabilized after going through financial trouble last year. CVNA YTD mountain Shares of Carvana have doubled this year. Third on the list is an apparel and fashion company that just released its latest earnings. PVH said in its first-quarter report earlier this month that it still sees revenue falling 6% to 7% this year but did raise its earnings forecast. IFi sees 25% upside for the stock. The biggest company on the list has the fourth-largest upside. Meta Platforms is already up nearly 40% this year but is trading below its highs from April. The upside projected by iFi AI would give the stock a new all-time high. META YTD mountain Shares of Meta Platforms are below their all-time high reached in April. The fifth name looks like another rebound play — Celsius Holdings . The energy drink stock has fallen sharply in recent weeks, slumping almost 7% on Monday alone, though it is still up more than 20% for the year. CNBC senior analyst and commentator Ron Insana is the CEO of iFi AI, which launched in March .
Investment strategy,Markets,Marathon Digital Holdings Inc,Carvana Co,Marathon Oil Corp,Conocophillips,PVH Corp,Meta Platforms Inc,Celsius Holdings Inc,business news
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