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Ethereum Has Surged in 2021, But These 4 Stocks Have Soared Even Higher

Investors’ interest and network upgrades have helped Ethereum soar more than 550% in price year-to-date. However, Upstart Holdings (UPST), AMC Entertainment (AMC), GameStop (GME), and Avis Budget Group (CAR) have outperformed the second-largest digital currency’s gains. So, we think it could be worth adding these stocks to one’s watchlist. Let’s evaluate.

Ethereum or Ether is the world’s second-largest virtual currency by market capitalization and facilitates operations with the help of the Ethereum blockchain. Investors’ interest driving the cryptocurrency craze has helped Ethereum soar 552.6% year-to-date. It also hit its 52-week high of $4,831.59 today.

Recent reports show that the Ethereum network burned more Ether than it issued for at least a week (burning means that the ether is permanently removed from the circulating supply) after Ethereum’s London hard fork upgrade introduced a mechanism to burn a large portion of transaction fees, measured in ether, rather than sending them to miners. This is primarily responsible for the unprecedented surge in this digital currency. However, although the hash rate has increased, lower transaction fees could indicate lessening demand, and trading volume has also declined  over the past few days.

On the other hand, the major U.S. stock market indexes notched up a round of records yesterday to start the second full week of trading in November. So, even though Ethereum has skyrocketed this year, Upstart Holdings, Inc. (UPST), AMC Entertainment Holdings, Inc. (AMC), GameStop Corp. (GME), and Avis Budget Group, Inc. (CAR) have soared even higher. Therefore, we think it could be wise to add these stocks to one’s watchlist now.

Click here  to check out our Cryptocurrency Industry Report for 2021

Upstart Holdings, Inc. (UPST)

UPST, which is headquartered in San Mateo, Calif., is a leading artificial intelligence (AI) lending platform that helps access affordable credit while reducing its bank partners' risk and cost of lending. Its platform utilizes advanced machine learning tools to accurately gauge the risk and approve more applicants than traditional, credit-score-based lending models.

On August 10, 2021, UPST unveiled its Upstart Auto Retail software, which includes AI-enabled financing. The new software is expected to provide access to UPST-powered auto loans for the first time and enable a superior car buying experience for both consumers and dealerships.

For the second quarter, ended June 30, 2021, UPST’s total revenue increased 1,018% year-over-year to $194 million, while its total fee revenue increased 1,308% year-over-year to $187 million. The company’s adjusted net income increased 1,481% year-over-year to $58.50 million. Also, its adjusted EBITDA increased 1,819% year-over-year to $59.50 million.

Analysts expect UPST’s EPS and revenues for its fiscal year 2021 to increase 478.3% and 223.8%, respectively, year-over-year to $1.33 and $755.80 million. The stock has gained 721.1% in price so far this year to close yesterday’s trading session at $334.60.

AMC Entertainment Holdings, Inc. (AMC)

The nation’s largest theatrical exhibitor, AMC, owns and operates theatres worldwide. As of November 9, 2021, the company operated 950 theatres and 10,500 screens across the United States and internationally. AMC is headquartered in Leawood, Kans.

On November 4, 2021, AMC announced its plans to sell its famous AMC Theatres Perfectly Popcorn through four new platforms. The company plans to sell its AMC Theatres Perfectly Popcorn through kiosks, counters, and stores at select retail locations around the country and deliver freshly made popcorn to the doorstep. This initiative should help it grab a piece of the growing multi-billion-dollar popcorn market.

AMC’s non-GAAP total revenues for the third quarter, ended September 30, 2021, increased 532.3% year-over-year to $755.60 million. The company’s net loss came in at $224.20 million, versus $905.80 million in the year-ago period. Also, its adjusted loss per share was  $0.44 compared to $5.70 in the prior year’s quarter.

For the current quarter, ending December 31, 2021, analysts expect AMC’s EPS and revenues to increase 96.8% and 564.1%, respectively, year-over-year. The stock has gained 2,025.5% in price year-to-date to close yesterday’s trading session at $45.06.

GameStop Corp. (GME)

GME in Grapevine, Tex., provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. It sells new and used video game platforms and software, accessories, and in-game digital currency.

On November 4, 2021, GME announced that it had entered  an agreement with a syndicate of banks for a new $500 million global asset-based credit facility to improve its liquidity. This is likely to help the company in its efforts to transition from a brick-and-mortar retailer to e-commerce.

GME’s net sales for its fiscal second quarter, ended July 31, 2021, increased 25.6% year-over-year to $1.18 billion. Its adjusted net loss came in at $55 million compared to $92 million in the prior-year quarter. Also, its adjusted loss per share was $0.76 compared to $1.42 in the year-ago period.

Analysts expect GME’s EPS for its fiscal year 2023 to increase 123.4% year-over-year to $0.15. Its revenues for its fiscal 2022 are expected to increase 11.3% year-over-year to $5.67 billion. The stock has gained 1,060.5% in price so far this year to close yesterday’s trading session at $218.64.

Avis Budget Group, Inc. (CAR)

CAR and its subsidiaries provide car and truck rentals, car sharing, and ancillary services to businesses and consumers. It operates under the Avis brand, which supplies rental cars to the premium and leisure segments of the travel industry, while its Budget Truck brand is the local and one-way truck rental service. CAR is based in  Parsippany, N.J.

For the third quarter, ended September 30, 2021, CAR’s revenues increased 96% year-over-year to $3 billion. The company’s adjusted EBITDA increased 380% year-over-year to $1.06 billion, while its adjusted EPS increased 850% year-over-year to $10.74.

For the current quarter, ending December 31, 2021, analysts expect CAR’s EPS and revenue to increase 975% and 63.7%, respectively, year-over-year to $3.15 and $2.22 billion. It surpassed the Street’s EPS estimates in each of the trailing four quarters. The stock has gained 685.8% in price year-to-date to close yesterday’s trading session at $293.10.

UPST shares were trading at $326.74 per share on Tuesday morning, down $7.86 (-2.35%). Year-to-date, UPST has gained 701.82%, versus a 26.10% rise in the benchmark S&P 500 index during the same period.

About the Author: Dipanjan Banchur

Since he was in grade school, Dipanjan was interested in the stock market. This led to him obtaining a master’s degree in Finance and Accounting. Currently, as an investment analyst and financial journalist, Dipanjan has a strong interest in reading and analyzing emerging trends in financial markets.


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