Put down the 10-K filings and the stock screeners. It's time to take a break from the traditional methods of generating investment ideas. Instead, let the crowd do it for you.
From hedge funds to individual investors, scores of market participants are turning to social media and market data to figure out which stocks are worth watching. It's a concept that's known as "crowdsourcing," and it uses the masses to identify emerging trends in the market.
Walmart Stores Inc.
- Nearest Resistance: $77
- Nearest Support: $75
- Catalyst: Q1 Earnings
First on our list of Thursday's most actively traded stocks is $233 billion retail giant Walmart Stores Inc. (WMT) . Shares of Walmart are up 2.2% today, hitting new 52-week highs intraday following first-quarter earnings. Walmart posted a first-quarter profit of $1 per share, besting the 96-cent earnings that Wall Street was expecting. 63% year-over-year growth in e-commerce sales is helping to fuel the positive sentiment in this retail stock.
Technically speaking, Walmart's price action looks strong right now. Shares broke free of a long-term downtrend back at the end of March, and they've been pointing higher ever since. Now, new highs are clearing the way for a re-test of this stock's all-time highs just below $91. Importantly, Walmart's earnings buck the trend of retail disappointments this quarter, which should make shares a magnet for investors dollars this summer.