Hubbell (HUBB), AutoNation (NYSE:AN), and DICK’s Sporting Goods (DKS) are hot stocks that have exhibited an uptrend over the past few weeks and months and are expected to maintain their momentum amid current market volatility, So, it’s wise to bet on them now. Read on for a closer evaluation of these names.While investor optimism surrounding the rebounding U.S. economy and a fast-paced vaccination is driving the stock markets, the Biden’s administration’s $3.5 trillion proposal to tax the rich and soaring COVID-19 cases in many countries worldwide are driving remarkable volatility in the stock market.
In this environment, momentum investing could help investors dodge short-term market volatility because stocks that generated momentum usually maintain it for some time irrespective of market conditions. Investors’ interest in momentum stocks is evidenced by iShares MSCI USA Momentum Factor ETF’s (MTUM) 9.3% returns over the past month versus SPDR Portfolio S&P 500 Growth ETF’s (SPYG) and SPDR Portfolio S&P 500 Value ETF’s (SPYV) 8.1% and 3.3% gains, respectively, over the same period.
Hubbell Incorporated (HUBB), AutoNation, Inc. (AN), and DICK's Sporting Goods, Inc. (DKS) have witnessed decent momentum over the past few months and should keep rallying. So, we think it could be wise to scoop up these stocks now.