Stocks to Watch This Week: 3 Potential Movers


  • Mixed news defines these three stocks, with upside and downside reinforcing both bull and bear theses.
  • General Motors (GM): Although United Auto Worker strikes delay production, GM may get some wiggle room in their EV ambitions.
  • Arm Holdings (ARM): This chipmaker’s stock market debut hit hard before slumping into the weekend, but it could be an ideal play to round out an AI-focused portfolio.
  • SharkNinja (SN): This consumer discretionary stock is flying high, but higher inflation could cut into its bottom line.
stocks to watch this week - Stocks to Watch This Week: 3 Potential Movers

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Pre-Halloween scaries are in full effect. September is well-known as possibly the worst month for the stock market. True to form, the S&P 500 fell almost 2% since August 31st. Further, short-term prospects don’t seem much better. 

A slew of economic data drops Monday. Traders with collective breath for news on whether rate hikes will continue. Uncertainty drives fear, and investors are skittish as the remainder of 2023’s interest rate prospects remain unknown. At the same time, bad news abounds as strikes spread to new industries and inflation begins ticking upward again.

All things considered, these three stocks are primed to move this week and are worthy of a watchful eye. Whether they’re worth investing in, though, is up to you. 

General Motors (GM)

2024 Chevrolet Silverado electric pickup truck at the New York Auto Show. GM stock.
Source: quiggyt4 /

Car manufacturers are in the hot seat, and General Motors (NYSE:GM) is near the top of the list.

The United Auto Workers (UAW) union remains steadfast in its commitment to improved pay, pension, and benefits packages. The deliberation between the union and automakers already took a toll on their stock, as GM fell nearly 20% since its mid-July high.

On Friday, 13,000 workers walked away from work sites. The walkoff has downstream effects beyond simple labor loss, as manufacturers like GM tell their workers to stay home as part of temporary layoffs. Because manufacturing labor is so specialized, walkoffs in one sector mean workers dependent upon that portion’s completion can’t continue.  

On the other hand, some expect the overall production delays to buy crucial time for GM to hash out problems related to electric vehicle manufacturing. Delivery and supply issues slowed planned 2023 releases, but unavoidable delays on the production line could give GM some much-needed breathing room as they try to meet ambitious forecast goals.  

Arm Holdings (ARM)

ARM company logo on the paper document and large microchips placed around. Illustrative for electronic chip manufacturer.
Source: Ascannio /

Arm Holdings (NASDAQ:ARM) hit markets hard last week with a strong IPO performance before slumping into the weekend. Shares in Arm were the fifth most traded stock last Thursday, with analysts pinning much of the enthusiasm on retail traders.

Arm, a semiconductor company, seeks to displace Nvidia (NASDAQ:NVDA) from its vaunted “most overvalued chip company” position. After IPO, the company traded at nearly 170x price to earnings. With Nividia trading at a slim 109x, Arm’s price is premium. But can it deliver on its newfound market cap?

Analysts seem doubtful. Nvidia’s sky-high valuation is based on rapid growth, as the company’s revenue doubled last quarter, and management expects the trend to continue. However, Arm’s revenue and net income dipped slightly in the same period. Underwhelming performance and underdelivery don’t bode well for this AI stock play. If you’re buying Arm to round out your semiconductor stock portfolio, go for it. But wait for a dip, and don’t expect it to displace the king of chipmaking.

SharkNinja (SN)

a group of appliances in front of a blue wall, including a washing machine, a refrigerator, a microwave and more
Source: Genetics

SharkNinja (NYSE:SN) is poised to continue its winning streak after a fresh Wall Street rating sent the stock soaring.

After hitting markets in July, the consumer discretionary stock’s first rating from Jefferies pins a fair price at $67 per share. The stock surged on the news but, at around $40 per share today, remains about 70% below Jefferies’ target. Whether SharkNinja continues its run is anyone’s guess, but the home appliance stock has solid long-term prospects.  

SharkNinja’s shining performance in “light recession” is particularly notable. Even as consumer budgets shrank, SharkNinja’s sales remained steady. In fact, sales have risen 20% annually since 2008. Bucking broader industry trends, SharkNinja’s management expects to end the year with $4 billion in revenue. 

SharkNinja’s stock climbed 50% since its IPO. Still, there may be more upside this week as more investors notice this stock that’s flown under the radar. 

On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines

Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy’s work can also be found at

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