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- Stocks in Play - November 11th 2024
Stocks in Play - November 11th 2024
TLDR Stocks in Play: MARA (Crypto), MNDY, RDNT
Stocks in Play - November 11th 2024
TLDR Stocks in Play: MARA (Crypto), MNDY, RDNT
Welcome to today's Stocks in Play report. Below are the key stocks to watch, along with brief Xray and Analysis. My main source of news is BenzingaPro. Check out their 2 Week Free Trial. The other tools I use daily are listed at the bottom of the email.
1) MARA Holdings Inc (MARA)
Industry Group: Data Processing Services Market Cap: $5.67b, Float: 286m, Short Interest: 27%, Short Ratio: 2, Exchange: NASDAQ
Catalyst: Crypto running to All time highs over the weekend. No specific crypto stock has an individual catalyst but all are gapping up strongly. MARA is my preferred play as an active stock today but others will likely do the same moves - COIN, MSTR etc. I expect a lot of volatility in this not just a straight up move.
2) Monday.com (MNDY)
Industry Group: Packaged Software Market Cap: $16.7b, Float: 38m, Short Interest: 7%, Days to Cover: 5.3, Exchange: NASDAQ
Catalyst: Strong beat on EPS $0.85 vs $0.63est, Slight Revs Beat $251m vs 246mest, Raised Q4 Guide, Raised FY24 slightly. Stock down 15% pre market. Free cashflow of $289m Potential for an overreaction trade to the long side. $275 current low, wary of spread. Overall revs are decelerating hence the punishment (from 38% to 30% Growth). Company simply didn’t beat by enough. Good enough for a one day play.
3) Radnet Inc (RDNT)
Industry Group: Medical Nursing Services Market Cap: $5.3b, Float: 65m, Short Interest: 5.7%, Days to Cover: 7, Exchange: NASDAQ
Catalyst: Beat EPS & Revs, Growing YOY, Announced collaboration with GEHC on AI Workflow Solutions. Could be a less obvious trade today. +19% pre market though without volume.
Market Awareness
We’ve obviously been on a massive tear since the US Election. Stocks are all gapping up very heavily this morning on nothing. Crypto obviously running at the weekend. I think the Risk Reward here is not good for swing trades but there should still be plenty of Day Trading opportunities. I am wary of a morning fade to shake out FOMO tourist buyers. I think if this occurs there will be nice opportunities late in the day. Perceived ‘‘Trump Trade’’ stocks likely most active.
After Hours I’m watching: LYV & GRAB Earnings
Sources & Services I Use in my Trading:
Finviz - Short Interest, Float, Articles, Fundamentals (Free/Paid)
Benzinga Pro - News Source + News Squawk + Earnings Data (Paid)
Tradingview - Charting & Scanning (Paid)
Koyfin - Fundamental Data (Paid)
EarningsWhispers - Earnings Calendar (Free)
Tradersync - Trade Journal (Paid)
Notion - Research, Note Taking, Database Creation (Free)
PS: There are many ways to trade stocks in play. It does not have to be the one that keeps going straight up and sometimes it doesn’t even have to be day one of the catalyst. Everyone must find a setup, timeframe and method that works for them. This list is supposed to educate on the criteria I use and the methods in which I find Stocks in Play. Yours may differ and that is completely okay.
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