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Real Money and Action Alerts PLUS Black Friday Stock Picks

The Action Alerts PLUS co-portfolio managers and two Real Money contributors give their stock picks for Black Friday.

Black Friday is here, and we have some data out from Adobe on consumer shopping.

"Consumers spent $5.1 billion on Thanksgiving and are expected to spend between $8.8 billion and $9.6 billion today. Thanksgiving was at the low end of our predicted range for online spending, which was set between $5.1 billion and $5.4 billion dollars. However, spending for Thanksgiving was still a notable uptick over average daily spend levels with shoppers spending $3.5 million on average per minute on Thanksgiving Day," Adobe predicts. 

And, on Black Friday, global markets sold off at the start of what is set to be a thin trading day following Thanksgiving in the U.S. amid fears that a new Covid variant named B.1.1.529 detected in South Africa that has already been detected in Israel and other countries and is more transmissible than the Delta variant.

We asked contributors from Real Money and the portfolio managers of Action Alerts PLUS to give their stock picks on Black Friday. 

First up, we have two retail picks.

Chris Versace, a co-portfolio manager of Action Alerts PLUS, says that he's eyeing Amazon  (AMZN) - Get Amazon.com, Inc. Report.

Bob Lang of Action Alerts PLUS explains why Dick's Sporting Goods  (DKS) - Get Dick's Sporting Goods, Inc. Report is the stock he's watching. The stock is up 125% year-to-date. You can watch his full explanation in the video above. 

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And investors can follow along with Lang and Versace's market advice, stock picks and more over on Action Alerts PLUS

If you're looking for a SPAC to watch, however, James DePorre has a stock pick for you. He's watching DCRC.

"This is a SPAC that should close its merger with Solid Power on Dec 7 and change its symbol to SLDP. SLDP makes solid-state batteries that will be used in electric vehicles. Solid-state batteries do not use the liquid electrolyte that is found in conventional lithium-ion batteries. The batteries are lighter, have a greater energy density, and allow an electric vehicle to travel further. Ford and BMW are investors in the company. One of Solid Power's main competitors is QuantumScape (QS), which has a market cap that is approaching 10x that of DCRC. I believe the primary reason for this valuation disparity is that DCRC is still stuck in the SPAC structure and when the vote and symbol change, the stock will quickly find a valuation closer to that of QS. I expect the deSPAC on Dec 7 to liven things up," DePorre told TheStreet. 

You can read more of DePorre's thoughts on the market over on Real Money

Real Money's Stephen Guilfoyle had a hard time picking just one stock. When TheStreet talked to him on Monday, Nov. 23, he had a few names on his mind.

"I bought  (BBY) - Get Best Buy Co., Inc. Report (SOFI) - Get SoFi Technologies Inc Report (RDW) - Get Redwire Corp Report, and  (VIAC)  today all on weakness and for what I think are good reasons. I also added to an existing position in dMY Technology Group IV, which is the fourth SPAC run by CEO Nicolo de Masi to merge with an emerging business in the wake of Genius Sports, Rush Street, and IonQ," Guilfoyle said. "I remain long RSI and IONQ as well. DMYQ is set to merge with Planet Labs (soon to be PL), which already generates significant revenue, already runs with gross margins of 40% (going to 70%+), and is likely to see free cash flow turn positive by 2023/34. Planet Labs bought Terra Bella from Google back in 2017. Their SkySats provides the images for Google Maps, and in return Alphabet ( (GOOGL) - Get Alphabet Inc. Class A Report) has led a $200M PIPE, after already being an investor in the private company. In case you think this is a hit and run, de Masi will be sticking around as a member of the Board going forward. I could go on. The clientele is both sovereign and private in nature. This is an investment, not a trade.  

And, of course, you can read more from Guilfoyle here