There’s a potential hurricane forming in the Gulf. According to Chron.com, “The National Hurricane Center announced Monday morning that the chances of “tropical cyclone formation” have tripled, up to 90 percent from 30 percent as of Friday.”
“Heavy rainfall from Potential Tropical Cyclone Nine is expected across South Texas on Tuesday and Wednesday,” they added, noting that “coastal flooding is possible along the South Texas coast tonight through Tuesday morning.”
Of course, if you’re in its way, be safe.
For those looking for an investment idea with the storm, look to generator stocks. For example, oversold shares of Generac Holdings (GNRC). Not only is the stock starting to pivot higher, but it could also benefit from surging demand for generators in preparation for potential power outages. GNRC last traded at $116.18. We’d like to see it refill its bearish gap around $155.
Sincerely,
Ian Cooper
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