Russia’s invasion of Ukraine has led to a sharp pullback among international investments. Yet some companies are able to buck the trend and still grow right now.
The top contender for such growth could be in social media plays. With many looking to bypass official news (often controlled on some level by governments), such companies could provide one of the few pockets of international growth in the next few months.
One such play is Twitter (TWTR). The social media company has just reported its best day ever following the disclosure that Elon Musk has bought 9.2 percent of the company. While such an immediate jump higher may be a cause for concern to some, the stake likely ensures a seat on the board and a chance for the company to correct course.
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Action to take: Like many tech stocks, shares simply look oversold and due for a bounce right now. Investors could likely see shares rebound by double-digits in the months ahead, but some activism by Musk could certainly help accelerate that process.
For traders, the July $70 calls, last going for about $1.62, offer further upside from here. Shares have a 52-week high close to $75, so even with the recent bounce, a further extension of the current rally could lead to a triple-digit rally in shares.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.