Top 5 Stocks to Watch in October: Bank on the Backfoot, No Thirst for Coca-Cola, Tech Giant Takes Dip and Electric Vehicle Volatility


October is here, and as the markets enter a new month, we take a closer look at five stocks that could be of significant interest to investors.

1) Bank of America

Bank of America stock has taken a dive over the past weeks and entered October on a low point. Down from the high of $29 on September 14 to the mid $26 range at the close of business on the first trading day of October, it is now at its lowest point in six months. Yesterday, Bank of America stated that capitulation is a likely event when discussing the possibility of big drawdowns in October, and the sentiment of investors is reflected in these reduced share values. The company's CEO has said this week that he believes there will not be a recession, therefore giving rise to some investor confidence across the US markets.

2) Baidu Inc.

The Hong Kong-listed division of China's giant internet company has also been on the back foot over the past month. Its shares have decreased over the month between the beginning of September and today by just over 10%. A small spike occurred at the end of September in which they began to regain some lost ground, but this was short-lived, and today, Baidu stock is trading at 129.70 HKD per share compared with 134 per share yesterday. Overall, Baidu is a stalwart; therefore, it is an evergreen stock worth watching.

3) Harley-Davidson

It may be coming toward the end of the summer months in the Northern Hemisphere, but Harley Davidson, the world's oldest continually operating motorcycle manufacturer, has been maintaining ground. The company sells a range of high-end motorcycles, along with branded merchandise, as its name is more of a household name, which people, not all of whom are necessarily motorcyclists, like to be associated with. Hence, its product range is saleable all year round. Harley-Davidson stock has been volatile recently, beginning modestly at the beginning of last month and spiking twice in September, once on September 6 and then again on September 14, before resting at just over $32 per share at the end of September. Harley-Davidson has made a name for itself as a pioneer of electric motorcycles in recent years, so it has the EV trend covered, as well as a long and faithful following in general.

4) Lucid Group

Remaining on the electric vehicle theme, but this time with four wheels, Lucid Group, a producer of luxury electric cars, has been growing in value over the past week. At the end of September, Lucid Group shares began rising from $5.17 on September 26 to $5.54 at the close of the New York session on October 2. That is a rise of 7.16% in five days. Lucid has managed to carve out a niche for itself in its domestic market, along with some following in Canada, but has no presence at all in Europe, whose roads are full of Tesla models and European electric and hybrid luxury cars. Lucid made a slow start but is now growing its market share, and its volatile stock movements are a case in point.

5) Coca Cola

Perhaps the most recognised brand name in any sector in the entire world, Coca-Cola is an evergreen corporate giant in all nations globally. An interesting movement has occurred with its stock, however. Coca-Cola stock has been decreasing in value for many months, and at the end of September, moving into the beginning of this month, it took a very sharp drop to $55.48, placing it at its lowest value in six months and second lowest in an entire year. The summer months have been warm, and people like cold soft drinks; however, competition is very high these days.


Although no predictions have indicated an imminent recession, even venerable and long-established brands like Bank of America, Harley-Davidson, and Coca-Cola, each boasting a history of over a century, have recently seen a decline in their stock performance.

The start of October is an interesting one. Will it be a minor downward blip, or will these giants begin to recover ground?

Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Shares

Elon Musk Contributes to NVDA Price Surge to a New Record When the Chips Are Up! NVIDIA's Stratospheric Market Cap After Earnings Report, NVDA Stock Price Exceeds $1,000 Coinbase (COIN) Stock Price Holds at Key Support Level The Share Price of Alibaba (BABA) Has Reached Its Yearly High

Latest articles


Nasdaq Index Shows Uncertainty Ahead of PCE Release

The main event of the week is the release of the Personal Consumption Expenditures (PCE) index, which the Federal Reserve particularly focuses on when assessing inflation in the US. The release is scheduled for Friday at 15:30 GMT+3.

Forex Analysis

EUR/USD Exchange Rate Has Fallen Below 1.08 Level

As the EUR/USD chart today shows, yesterday the rate dropped by 0.46% – the most significant strengthening of the US dollar against the euro in one day this month. Moreover, the rate fell below the psychological mark of 1.

Forex Analysis

In the Spotlight: US Inflation and GDP Data

In the final trading sessions of May, leading currencies have been in a downward trend against the dollar. For instance, the pound/dollar pair lost over 100 pips in a single day, euro sellers in the EUR/USD pair are

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.