Cindy Ord/Getty Images Stocks that are poised to benefit from the reopening of the US economy are set to experience a "monstrous rally" next week, according to Fundstrat's Tom Lee. In a CNBC interview with Scott Wapner on Friday, Lee said that when COVID-19 cases peaked in April, it took 20 days for value stocks to stage a sharp rally. With COVID-19 cases having peaked on July 27, according to Lee, these same stocks are setting up for another major move higher that should occur late next week. Lee also noted that there is "so much cash on the sidelines still," which represents a "monster amount of buying power" that can lead to higher stock prices once investors feel confident putting that cash to work. Lee listed six stocks that "could make a big bounce" if his prediction plays out. Visit Business Insider's homepage for more stories. Reopening stocks are set to stage a "monstrous rally" next week as cash on the sidelines continues to represent a "monster amount of buying power," Tom Lee said in an interview with CNBC's Scott Wapner on Friday. The reopening stocks, also called "epicenter stocks" by Lee, are stocks that should benefit from a steady reopening of the US economy, and include the travel, leisure, and hospitality sectors.See the rest of the story at Business InsiderNOW WATCH: Why YETI coolers are so expensiveSee Also:A Wall Street investment chief warns new stock-market highs could be setting up a 'historic trap' for investors — one that also appeared just before the dot-com crashJPMorgan says buy these 19 'diamond in the rough' stocks that have plunged from yearly highs, but are spring-loaded for huge gains ahead'The most extreme valuations in history': A notorious market bear says investors should brace for record-low negative returns over the next 12 years — and warns that today's exuberance implies a 66% plunge
Reopening Stocks Are Set For A 'monstrous Rally' Next Week, And These Are The 6 Stocks That Could Benefit, Fundstrat's Tom Lee S
mfox@businessinsider.com (Matthew Fox), Business Insider
Sun, 08/09/2020 - 5:20am
Topics: cindy ord/getty images stocks fundstrat's tom lee april with covid-19 july visit business insider reopening cnbc's scott wapner business insidernow watch yeti wall street lee tom lee cnbc scott wapner covid-19 lee us benefit cash investors friday sidelines interview economy peaked setting stage amount higher monster cases buying power warns highs
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