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Benzinga Pro's Top 5 Stocks To Watch For Tuesday, May 11, 2021: GLD, AMC, COIN, HRTX, FLXN

Today's 5 Stock Ideas SPDR Gold Trust (GLD) - Despite bearish sentiment in the stock market by retail investors, stocks (as measured by the S&P 500 index) were down only about 2% from all-time highs. The

05/11/2021 08:53

Today's 5 Stock Ideas

  • SPDR Gold Trust (GLD) - Despite bearish sentiment in the stock market by retail investors, stocks (as measured by the S&P 500 index) were down only about 2% from all-time highs. The VIX, an inverse measure of volatility impacting options contracts, was up about 25% over the last few trading sessions but recently traded at a level seen in late March. Amid periods of increasing volatility, gold can often times be used as a hedge. While gold was up about 10% since recent lows set at the end of March, it is still well off the 2020 high around $2,089 per ounce.
  • AMC Entertainment (AMC) - Shares rallied over an important technical level at $10 in Monday's post-market trading session. The Benzinga newsdesk did not see any news to justify the move higher. The stock sold off in pre-market action but initial showed support at the $10 level. Shares traded around $9.82 in Tuesday's pre-market session.
  • Coinbase (COIN) - The stock was down about 5% Tuesday morning despite a couple arguably positive news items: 1. Oppenheimer initiated coverage on Coinbase with an Outperform rating and $434 price target and 2. ARK Invest's Cathie Wood showed the purchase of Coinbase in her nightly portfolio alert.
  • Heron Therapeutics (HRTX) - The FDA will rule on the company's New Drug Application for its postoperative pain candidate. The action date is set for Wednesday of this week.
  • Flexion Therapeutics (FLXN) - Preliminary data from the company's Phase 1 trial of its intra-articular gene therapy candidate for osteoarthritis is expected out Tuesday.