Five interesting things that Hodges Capital research analysts discovered this week...

#1 ELECTRIC CARS: S&P Global Mobility estimates that in the U.S., at the end of 2021, there were 2.2 million battery-electric vehicles and plug-in hybrid electric vehicles on the road. By 2030, this number is estimated to grow to 32 million.      

#2 POPULATION MIGRATION: The Wall Street Journal recently reported that many large U.S. cities lost population last year. San Francisco lost 6% of its population, NYC lost 3.5%, and Chicago lost 1.6%. In general, the trend has been for Americans to move to areas with more space.

#3 MORTGAGE DEMAND: In the past week, mortgage applications to purchase homes fell to their lowest level since 2018. According to the Mortgage Bankers Association, volume was 14% lower than the same week a year ago.

#4 THE NEED FOR SPEED: The movie "Top Gun: Maverick" broke a post-pandemic record at the box office, generating more than $156MM in the U.S. over the three-day Memorial Day weekend. This blockbuster could be a catalyst to get moviegoers back into the theaters this summer.

#5 CHICKEN FEED: The USDA projects an ending stock of corn at 1.5 billion bushels this year, compared to a ten-year average of 1.6 billion bushels. This trend suggests that input prices for meat protein, such as chicken, could move higher in the back half of this year.

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