After last Thursday’s brutal sell-off, Friday’s expected rebound lifted three stocks. They are hot stocks that need strong follow-through to confirm the bullish uptrend.
First, Coherent (COHR) traded in the $300s up until early October. Shares rebounded from the Nov. 5 low of around $163 to close at $192.81. In the first quarter, the firm reported revenue of $2.37 billion (+50% Y/Y) or $2.28 in EPS.
It aimed for $4 billion in quarterly revenue by fiscal 2028. The OCS (optical circuit switch) product is ramping up at two sites. That is a $4 billion revenue opportunity by 2030.
Second, Airbnb (ABNB) broke out last Friday to close at $189.99 (+11.67%) after posting strong revenue growth in Q3. The business reaccelerated after the firm rebuilt its multi-year platform and increased its shipping velocity. The firm added AI capabilities, and the AI assistant is now available in over 50 languages.
By handling 40% of all customer support issues with AI, Airbnb cut human agent resource costs.
The third pick is Rocket Lab (RKLB). Shares jumped back to the low $50s, though this is far from the $151 high reached in late May. The firm will post quarterly results after the market closes today.
The launch of its Electron rocket on Oct. 23 was its 98th. Each successful launch is a bullish development that should lift RKLB stock.
