March… what can we say?
Another wild month for stocks. And the Stock Challenge Index tells the tale.
Stock Challenge Index March 2023
Equities started the month hot, white hot, you might say, before collapsing in value due to numerous bank failures and fears of contagion in the U.S. and Europe. However, because of bank failures, traders are now pricing in a looser monetary policy. Thus, stocks rallied to conclude the month, with many of our Top 10 Stock Challengers seeing their picks finish the contest at March highs.
The NASDAQ (100) is, once again, in bull market territory, having increased slightly more than 20% since its December 28th low… extraordinary given all the headwinds we have faced already in 2023. Clearly, traders are speculating the Fed is at or near the end of its rate-hiking cycle. And, they may be right…
Just today, February’s U.S. Core PCE Inflation (personal consumption expenditure) came in at 4.6%, below the anticipated 4.7%. That’s a month-over-month increase of 0.3% vs. the 0.4% that was expected. For context, January’s month-over-month increase was 0.6%. We shall see if a trend is forming here.
Equities should rally through to the fall if the trend is sustained into the summer, as the Fed will most certainly have room to pause (and likely stop indefinitely) in such a scenario.
The Story of March’s Stock Challenge Was a Simple One
When you get it right with small and micro-cap stocks, the paydays are massive… nothing quite like it. And that’s exactly what Kubota did by picking Bellerophon Therapeutics (BLPH: NASDAQ), which soared roughly 340% in March and closed trading today at its month high of $7.89… just an absolute banger!
After March 5th, Kubota took the lead in the contest and didn’t look back, clinching first place early, never really being challenged. Kubota finished the month with a combined average return of 160.78%, the best single-month Stock Challenge return in 2023.
Our second-place finisher, Geeo47, also had a great showing in March, posting a 105.43% gain. In any other month this year, that would have easily been good enough for the top spot and all the prize package goodies that come with being the champ…
Alfie’s pick of Versus Systems Inc. was the X factor in clinching the third spot. Its late surge in the final few days of trading was enough to overtake Eric Bandito for third place on the month’s final day!
March’s Final Top 10 Leaderboard
To our Top 3 finishers, lookout for an email from our support team. Your prizes will be on their way shortly.
Lastly, just a few hours remain to enter April’s Stock Challenge… don’t hesitate to get your picks in tonight! Click here to enter now.
Have a great weekend,