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And exactly when I feel like we can't trust the markets and anything goes, we see that we can't trust the markets. No clear direction has been established for most sectors and there is only one that I am liking more and more. It is anything to do with home construction. I've touched on ETFs before ($NAIL) but today I want to dive deeper into a company that I have recently come across.
CEMEX, S.A.B. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs. In addition, it provides building solutions for housing projects, pavement projects, and green building consultancy services; cement trade maritime services; and information technology solutions.
$CX is and has been on a bull run and has been staying above the 50 day MA since the coronavirus lows. As many of you know the US housing market is getting a little out of hand and home prices are increasing very fast in many urban areas around the country. Stocks like this will be soaring for, possibly, a year more.
The latest earnings that was out last month was 15 times higher than previous and beet expectations by far. "Cemex's net income during the first three months of the year rose to $665 million in the quarter from $42 million in the same period last year."
"We are quite pleased with our first quarter results... despite persistent challenges from COVID in many markets," said Chief Executive Fernando Gonzalez.
Sales rose across Latin America, however in the US, which is Cemex's largest market, sales also rose 5%. On its investor earnings call, Gonzalez said the company is "optimistic" about the proposed infrastructure spending in U.S. President Joe Biden's American Jobs Plan.
A lot of boxes are being ticked for me, and I am already bullish in the housing construction sector. If $CX pulls back closer to the 50 MA, I can see myself pretty confidently investing in this stock for a nice swing trade. It is a day off of ATH, yet something tells me it is going higher. Overall it has performed excellent this year.
If you want to get a couple of $CX stock for free sign up with Webull because they are currently giving them out. They periodically change which stocks that they give away. Take this as a good opportunity to get a stock that is only $8 now but has the potential to increase a lot by EOY.
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