UiPath, Chegg, and Roku have declined 49%, 74%, and 36% respectively in 2024. Despite this, they may still deliver meaningful gains in the second half of 2024. UiPath's revenue is expected to grow 12% next year, and it has a cash-rich balance sheet with an enterprise value of $5.4 billion. Chegg's new CEO is working to embrace AI, and it's trading at a low multiple of less.
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Foreign Institutional Investors (FIIs) have turned bullish on the Indian market, adding longs in single-stock futures and increasing their net longs on the index. The Nifty futures rollovers stood at 76% at the end of June series, with a higher open interest base of Rs 36,400 crore. The June series saw a 7% gain in Nifty, with sectoral indices like Realty, IT, and Private Bank Index surging up.
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Trump Media & Technology shares surged 5% following the US presidential debate, with investors betting on its potential growth if Donald Trump is re-elected. Citi analysts expect increased interest in the company due to news headlines. The stock, which has tripled this year, is highly volatile, making double-digit percentage moves daily, and has peaked at nearly $80.
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