CNBC ‘Halftime Report’ Crew talk Bumble, Altimeter, Plug Power, and more
- CNBC's "Halftime Report" crew fielded questions from viewers.
- One investment pro likes Bumble for the long-term while another is bullish on SPAC company Altimeter.
- Another pro makes the case for buying Plug Power on recent weakness.
The CNBC “Halftime Report” crew answered questions from the show’s viewers. Among the multiple stocks discussed include dating app Bumble Inc (NASDAQ: BMBL), SPAC company Altimeter Growth Corp (NASDAQ: AGC), clean energy company Plug Power Inc (NASDA: PLUG), and the health care sector
Bumble: 5-10 year vision
Shares of Bumble are down 15% from its early 2021 initial public offering and investors should pick shares on the weakness, according to Boston Private CIO Shannon Saccocia. Bumble founder and CEO Whitney Wolfe is on a mission to transform Bumble from a dating platform to a brand “in which people are going to have an affinity.”
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Bumble’s stock could go through a period of volatility in the coming quarters but Bumble will not resemble its current image in five to ten years from now, she said.
Altimeter Growth: Sticking with Gerstner
Altimeter Growth secured the title of overseeing the largest SPAC deal to date with the acquisition of Singapore’s Grab. Altimeter founder and CEO Brad Gerstner is among the best investors in the game today and investors should have faith in the deal despite Altimeter’s stock weakness in recent days, Short Hills Capital Partners CIO Steve Weiss said.
“He’s tied in for three years, has his own capital in it,” Weiss said. “So, yes I am sticking with him.”
Healthcare sector: two picks
The healthcare sector has lagged other sectors in the current market rally but this dynamic could change soon, Odyssey Capital Advisors Jason Snipe said. Among the healthcare sector that is better positioned amid the economic reopening, investors should focus on elective surgery and preventive care.
Plug Power: Buy the dip
Plug Power is up more than 500% over the past one-year period but down more than 35% over the past month. A “Halftime Report” viewer is asking what to do with their shares that were bought at $43 per share and are now trading near $25 per share.
US President Joe Biden’s recent infrastructure bill should lend some support to green energy stocks and investors losing money in Plug Power should hold on to the stock, MarketRebellion.com Co-Founder Jon Najarian said.
“I think Plug goes a lot higher,” Najarian said. “I’m all about lithium and hydrogen power as well and I think Plug does a great job. So, yes I would hold it.”