Because COVID-19 vaccine booster shots and cooler-than-expected inflation suggest a continuing economic recovery, mid-cap stocks that were losing momentum on concerns over slowing economic growth surged last week. As such, we think EnLink Midstream (NYSE:ENLC), Sharecare (SHCR), SmileDirectClub (NASDAQ:SDC), and Crescent Point Energy (NYSE:CPG) could be good additions to one’s watchlist now because they gained more than 10% in price last week. Read on.The stock market has been volatile lately due to the resurgence of COVID-19 cases, rising inflation, and simmering geopolitical tensions. This has caused a downtrend for several mid-cap stocks, which are typically more sensitive to market volatility than large-cap stocks.
However, continuing efforts to increase the efficacy of COVID-19 vaccines (including initiatives to administer booster shots) and lower-than-expected inflation data for August have renewed investors’ positivity about a continuing economic recovery. This resulted in a trend reversal for some mid-cap stocks last week.
EnLink Midstream, LLC (ENLC), Sharecare, Inc. (SHCR), SmileDirectClub, Inc. (SDC), and Crescent Point Energy Corp. (CPG) gained more than 10% in price last week. So, we think it could be wise to add these stocks to one’s watchlist.