Stocks Rise as OPEX week comes to an end (PERI, AMZN)

Futures are slightly red this morning seemingly on a gap down it seems in AAPL (-1.45%) although not seeing news on that.  However, on the flip side at the time of writing this article we have AMZN (+1.53) gapping up.  But then again this is OPEX week and OPEX day for that matter.  All monthly 4/21 contracts will be expiring today so more chop is expected yet again most likely.

One stock that we would like to draw your attention to is Perion Network Ltd Common Stock (NASDAQ:PERI). PERI provides digital advertising solutions to brands, agencies and publishers in North America and Internationally. The stock is in a strong uptrend and has been on of the strongest stocks in the entire market over the last 6 months. PERI has shown relative strength to other tech and advertising related plays. Perhaps a big part of that is that PERI has a partnership with Microsoft’s Bing search engine .

As more and more consumers switch from Google to Bing with its new

ChatGPT-powered search feature, investors are calculating that Bing might be able to gain significant market share, which could lead to PERI’s profits growing much more than expected.

Those figures will be evident for the first time in PERI’s earnings announcement for Q1 on May 3. Given ChatGPT’s popularity since the new year and the increased usage of Bing I would not be surprised if PERI blows earnings out of the water and continues its big run for the rest of the year.

The pullback over the last couple of days could be a good spot for a potential push into earnings.

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