Investing.com investing.com 03 Jan, 2021 17:45 am

1 Stock To Buy, 1 To Dump When Markets Open: Tesla, Alibaba

1 Stock To Buy, 1 To Dump When Markets Open: Tesla, Alibaba
Stocks Analysis by Investing.com (Jesse Cohen/Investing.com) covering: S&P 500, Dow Jones Industrial Average, SPDR S&P 500, Tesla Inc. Read Investing.com (Jesse Cohen/Investing.com)'s latest article on Investing.com

p Investors will be watching fresh COVID-19 headlines in the week ahead amid lingering worries surrounding the pandemic.In addition, there is also key December employment data, as well as the latest batch of ISM Purchasing Manager Indexes due in the week ahead.Tesla is likely to see increased buying activity in the week ahead after the Elon Musk-led electric carmaker reported record fourth quarter vehicle delivery figures over the weekend, despite the impact of the ongoing coronavirus pandemic.Investors may want to stay away from shares of China's e-commerce giant Alibaba (NYSE: BABA ) this week as they await fresh developments following recent news that it is the subject of increased antitrust scrutiny by the Chinese government.

p Taking this into consideration, BABA shares look set to remain on the defensive in the days ahead as it continues to face tough challenges ahead, with the Chinese government reportedly seeking to take a larger stake in the company.After scoring a gain of more than 700% in 2020, Tesla (NASDAQ: TSLA ) shares look set to kick off the new year right where they left off.

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