Mid-Day Market Wrap: China, Copper Weakness Doesn’t Stall Momentum Stocks

China slowdown fears didn’t stall the momentum of fuel cell manufacturers or Facebook Monday. Though the unexpected drop in China exports did cause investors to reevaluate other high-beta, growth stocks such as $TSLA, as well as give Dr. Copper a bad feeling.

$PLUG was a nice distraction for what is coming to $DJIA $SPY

— Preston Kingswood (@PrestonKingswood) Mar. 10 at 02:07 PM

Shares of hydrogen fuel cell manufacturer Plug Power, $PLUG, were up more than 22% by 2p.m. after spiking Monday morning. The company stock has climbed 132% since Feb. 10 when $PLUG announced a deal with Walmart Stores, $WMT, to power electronic fork lifts at the retail chain’s North American distribution centers. Plug’s CEO’s insistence that the company will be profitable this year is also pushing the stock to new highs.

Investors are banking on more $PLUG deals to come. Sentiment on the stock is 93% Bullish, according to StockTwits’ analytics. The company reports earnings on March 13, before the bell. Investors will look for deal news and stronger guidance than the EPS loss of $0.11 that Wall Street predicts, according to stats on Yahoo Finance.

$PLUG $FCEL $BLDP they may not be profitable THIS qtr – its all about the forward guidance.

— Bryan (@futurehorizon) Mar. 10 at 01:34 PM

Excitement over the potential market for hydrogen cells—fanned by Plug’s Walmart deal—also fueled shares of Ballard Power Systems, $BLDP, and Fuel Cell Energy, $FCEL. Ballard climbed more than 26% by mid-day. $FCEL rose more than 11%.

$PLUG $BLDP global view of future market in billions (forklifts20,truckrefrig20,rangeextenders20) 60 bill. current cap .9 bill 67×8.27=554

— M Van Buren (@wijsman100) Mar. 10 at 01:47 PM

Enthusiasm for growth stocks extended to Facebook, $FB. Shares of the social network climbed to a 52-week high intra-day after reports that Facebook’s Instagram photo sharing service had signed a $50 Million deal with advertising giant Omnicom.

$FB and $PLUG paying me today.

— isaac (@Maknora) Mar. 10 at 01:32 PM

Momentum darling Tesla, however, didn’t ride the growth stock wave today. Shares of the electric-car maker fell for the fifth day in a row, dropping 3% intra-day Monday. Some Tesla investors said they are now looking at $PLUG for sharp gains.

$PLUG is 10 x the tsla of the future $tsla

— Mike Jones (@mjones38) Mar. 10 at 12:42 PM


$PLUG I believe the chart will eventually look like $TSLA. Holding for no less than a year. A lot of technology and patents to be realized.

— ** (@WDE_09) Mar. 10 at 12:45 PM

Some cashtaggers warned against betting too heavily on high-fliers. Copper futures plummeted on the China news, prompting some investors to wonder whether Dr. Copper’s ails marked a U.S. market top. iPath DJ-UBS Copper ETN, $JJC, was among the top trending tickers on StockTwits.com.

New post: "Copper, Copper … is this the topper?" http://stks.co/d0JU4

— Peter Brandt (@PeterLBrandt) Mar. 10 at 01:59 PM


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