The Robinhood Stock You Should Avoid at All Cost October 23, 2020 Traders, I've decided to start a new segment where I cover the dirty dogs of Robinhood that you need to stay the heck away from. And today I'm seeing major warning signals from Draftkings Inc (Nasdaq: DKNG).
Now to be fair, even I joined the bandwagon of this fantasy sports betting operator. If you've been a member of my Sweet Spots Stocks program since the beginning, then you know this stock was also our very first trade.
Recently the stock went from under $20 to all the way up to trading at $35 per share — and this is where I got out. (Though it ended up climbing to $64. In both sports and trading, hindsight is 20/20.) But after the run-up, DraftKings fell back down to $50 a share, and that's when we saw all the Robinhood traders start piling into the trade.
As soon as the pile-on began, everyone started getting their butts handed to them. Days later, the stock went down even further — selling at less than $43 a share — and there is no more bullish view in sight.
CEOs and insiders are dumping shares, and I think I know exactly why: Sports have become boring and somewhat trivial, especially when we can't even leave our houses to watch our favorite games live.
And if things keep playing out like they are currently with this stock, then I think we may have another Nikola Corporation (Nasdaq: NKLA) on our hands…
| 
0 Response to "Invest in These 2 Growing Robinhood Stocks"
Post a Comment