2 Tech Stocks to Watch Under $20

GDRX was upgraded by Raymond James to "outperform" today

Laura McCandless

Deputy Editor

May 16, 2024 at 2:54 PM

GDRX
BMBL

This week in Cheap Seats: Stocks Under $20 segment, we're taking a look at online services stocks GoodRx Holdings Inc (NASDAQ:GDRX) and Bumble Inc (NASDAQ:BMBL).

GoodRx stock is surging today, up 8.8% at $7.91 at last look, after an upgrade from Raymond James to "outperform" from "market perform," with a price-target hike to $16 from $14. This bull note follows the healthcare platform's inaugural investor day and prescription contracting agreement with supermarket chain Kroger (KR). Since the start of the year, the equity is up 18.2%.

Bumble stock isn't making any particularly outsized moves today, up 0.2% at $11.99. However, the stock is on a notable uptrend after its May 8 record low of $9.83. BMBL jumped broke above several short-term moving averages following this trough, including former pressure at the 60-day trendline.

It's also worth mentioning that both stocks have a bit of short squeeze potential. Short interest represents 10.8% of GDRX's available float, and 9.3% of BMBL's.

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