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Zacks.com featured highlights include: Grindrod Shipping, Tilly's, Select Bancorp, Global Ship Lease and Genco Shipping & Trading

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·5 min read
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For Immediate Release

Chicago, IL – June 21, 2021 – Stocks in this week’s article are Grindrod Shipping Holdings Ltd. GRIN, Tilly's Inc. TLYS, Select Bancorp Inc. SLCT, Global Ship Lease Inc. GSL and Genco Shipping & Trading Ltd. GNK.

5 Stocks with Recent Price Strength Amid Inflation Concerns

Over the past one and a half months, market participants are speculating about impending inflation in the U.S. economy. The spike in core consumer price index (CPI) data for April and May and April's core PCE price index - Fed's favorite inflation gauge - have made investors jittery about investing in equities.

On Jun 16, in its latest FOMC meeting, Fed acknowledged that the U.S. economy is suffering from inflationary pressure and a rate hike may come before than expected.

However, three major positives are there in Fed Chairman Jerome Powell's post FOMC statement. First, there is no immediate tapering expected for the ongoing $120 billion per month quantitative easing program. Second, a rate hike, if it happens, may not take place before late 2023. Third, Fed officials' informal discussions about a possible deviation from the existing easy-money policy are solely due to an impressive recovery of the U.S. economy, beyond the central bank's own expectations.

Meanwhile, the net worth of American households reached a fresh all-time high in the first quarter of 2021 supported by a faster-than-expected recovery of the U.S. economy from the pandemic-led devastations. On Jun 10, Fed reported that household net worth surged $6.7 trillion or 3.8% in first-quarter 2021 from fourth-quarter 2020 to reach $136.9 trillion.

The pandemic-led devastations of the U.S. economy were not as severe as estimated 16 months ago. U.S. household net worth climbed 6.8%, 3.2%, 5.6% and 3.8%, respectively, in the second, third and fourth quarters of 2020 and first-quarter 2021, sequentially, after sliding 5.6% in first-quarter 2020. An unprecedented fiscal and monetary support helped in reviving household net worth.

At this stage, wouldn’t it be a safer strategy to look for stocks that are winners and have the potential to gain further?

Sounds Good? Here’s How to Execute It:

One should primarily target stocks that have freshly been on a bull run. Actually, stocks seeing price strength recently have a high chance of carrying the momentum forward.

If a stock is continuously witnessing an uptrend, there must be a solid reason or else it would have probably crashed. So, looking at stocks that are capable of beating the benchmark that they have set for themselves seems rational.

However, recent price strength alone cannot create magic. Therefore, you need to set other relevant parameters to create a successful investment strategy.

For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/1570567/5-stocks-with-recent-price-strength-amid-inflation-concern

Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.

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Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine.  But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.

Strong Stocks that Should Be in the News

Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Genco Shipping & Trading Limited (GNK) : Free Stock Analysis Report
 
Tillys, Inc. (TLYS) : Free Stock Analysis Report
 
Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report
 
Select Bancorp, Inc. (SLCT) : Free Stock Analysis Report
 
Grindrod Shipping Holdings Ltd. (GRIN) : Free Stock Analysis Report
 
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