Top stocks to watch this week: 10/01/2022

These are our weekly picks for the top stocks to be watching over the week commencing 10/01/2022.
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3 min read
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Our top pick: Asana

This company offers productivity software for teams by helping them organize, track, and manage their work. As the world has continued to shift to a more digital-focused society the company may be well positioned to take advantage.

While Asana is still not profitable and the company reported a loss of $211.7 million in 2021 there is no denying the popularity of the service. Asana claims to have over 114,000 (as of last year) paying customers and millions of free customers. Additionally, in March 2021 Asana announced it has grown revenues by 59% year over year.

Asana’s stock is currently down around 17% over the past month but it is up around 90% over the past year. The stock is currently trading at around $61.22 which is down from its all-time high of $145.79.

Block

Formerly known as Square, this is a financial services and digital payments company. It is known for its payment system ‘Square’ and the famous Cash App used for sending money between individuals.

Also, the company has had an increased focus on crypto and as mentioned before by us, if crypto does continue on its path to becoming more mainstream, Block may well be in a good position to take advantage.

This company has been mentioned by us before and it continues to be an attractive stock to watch.

Key figures from the Q3 2021 earnings report:

  • Revenue was $3.8 billion.
  • Gross payment volume: $45.4 billion

Block’s stock is currently down around 24% over the past month and down around 37% over the past year. The stock is currently trading at around $141.54 which is down from its all-time high of $289.23.

Virgin Galactic

This company may have been founded in 2004 but in reality, it is still a company that has a solid offering. Recently a giveaway was announced giving the winner 2 tickets for a Virgin Galactic flight and with flights set to resume in Q4 this year after the delay for refurbishment work the company may now finally be close to some further progress.

Since July (2021) Virgin Galactic stock has been falling – the company is in a period of low activity due to its refurbishment work, however, once flights resume and Virgin Galactic starts to show progress once again it may well be another turning point for the stock. Currently, it is at a very low price compared to where it has been before.

The stock has also been mentioned in our weekly market roundup. Virgin Galactic’s stock is currently down around 20% over the past month and down around 50% over the past year. The stock is currently trading at around $12.45 which is down from its all-time high of $62.80.

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