Yahoo Finance published this video item, entitled “Buy community banks on credit, Sell Disney over messaging: Strategist’s stock trades” – below is their description.
#yahoofinance #communitybank #disney
Commerce Street Capital CEO and President Dory Wiley joins Yahoo Finance Live to discuss his preferred stock trades: Buy small, community banks ConnectOne Bancorp (CNOB), Peapack-Gladstone Financial Corporation (PGC), and Texas Capital Bancshares (TCBI), while avoiding Disney (DIS) and Tesla (TSLA). Wiley states smaller banks are “picking up on the failures” of regional banks like Signature and First Republic. ConnectOne, Peapack-Gladstone, and Texas Capital saw declines in the month of March amid banking woes, but their shares have been on the mend since then. “Those are nice conservative plays in the banking industry just in case things were to go wrong, these banks actually would do better when things go wrong because they’re so strong in capital,” Wiley says. Wiley advises investors to avoid Disney as the House of Mouse seems “out of touch” with their customers, the market, and the politics of their own state. Disney has entered into lawsuits against Florida Governor Ron DeSantis after he formed an advisory committee to revoke the theme park’s special tax status. Lastly, Wiley finds EV maker Tesla to be a “popularity stock”, likening it to a meme stock due to its high volatility, overvaluation, and ability to regularly go against the fundamentals.
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