Weekly Investing Roundup
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You pull up an app on your phone, put in where you want to go, and a vehicle arrives within minutes to take you to your destination. The only thing that’s different is that there is no one behind the wheel. This may sound futuristic, but robotaxis are much closer to becoming a mainstream reality than you may think. In fact, by the end of the year, one company plans to deploy as many as 150 “self-driving” robotaxis around Europe and Israel. And if this concept takes off, one stock could be a huge benefactor…
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Some say that we are in a “skinny bull market,” but there has been nothing skinny about the returns of Avis Budget Group Inc. (CAR) over the last month. The stock price for the rental car company is up 35% as of this writing, and when people see a stock price climb that high that quickly, they tend to buy up as many shares as they can because they don’t want to miss a continued rally. But our friends at LikeFolio found some alarming data that shows if you are buying CAR right now, you may be falling into the classic trap of buying high and eventually being forced to sell low…
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In typical fashion, the Federal Reserve just keeps confusing everyone. While Fed officials see the economy growing this year, rate hikes remain unchanged in June, sending a conflicting message that maybe the U.S. economy really isn’t in a strong enough place to handle another rate hike. On top of that, investors aren’t believing that the Fed will keep hiking rates, even though it signaled two more could happen by December. To make sense out of all of this and to prepare yourself for what could be next, here’s what you need to know…
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