| Hey traders, Lance Ippolito here! Welcome to our Weekly Rundown, where we'll share some of our top trading ideas — and our biggest winners!
I did it, traders. I bought Didi shares on Tuesday, and I know you think I've lost it. But hear me out: I don't think it's a terrible idea to be trading Didi stock. I just don't.
The Chinese ride-sharing company had its initial public offering (IPO) on Wednesday, June 30, and was listed at $14 a share. Leading up to the event, there were a couple of media talking heads saying to buy as much Didi Global Inc. (NYSE: DIDI) as you can on the IPO... *cough, Cramer, cough*
But then on Tuesday, the Uber competitor got hit with some bad news.
Coming out of the holiday weekend, the Chinese government announced it was launching an investigation into Didi and removing it from the app store. At face value, the government is saying it's over cybersecurity concerns.
U.S. investors aren't so sure, but I'm not here to get into politics. I just want to talk about trading.
Why I'm Still Trading Didi
After the bad news, Didi's stock began to tumble. On Tuesday, the first trading day of the week, shares were down to about $10.90 premarket off of last week's high of $18…
And still haven't climbed back up to be even close to IPO levels.
Either they bought on the IPO and were just down to much money, or their broker made them sell. And so, as I was sitting there, watching everyone selling off Didi stock due to negative sentiment…
I thought to myself, "You know what? I'll be a buyer."
So I picked some shares up at around $12 apiece… which I know is risky.
But what if there's no more bad news? What if Didi starts to close the gap and hits $15… $16… $17 a share?
Then all those same talking heads that were pushing traders to buy on the IPO will come out and say "Didi's a good buy!" And all of the trend-followers will jump on the wagon…
While I'm already in at $12 a share.
BIG Wins
We had a couple of big winners this week from our Sweet Spot Stocks and Weekly Blitz Alerts strategies.
Editas Medicine Inc. (Nasdaq: EDIT) is a Sweet Spot Stocks pick I've had my eye on for quite some time. It's been steadily trending upward, so I'm still tracking it to hopefully lead my Blockbuster Breakout Calendar members to yet another big win.
To our members, be on the lookout for more updates in your inbox from us on EDIT.
Vistra Corp. (NYSE: VST) experienced some strong buying, which led me to believe the stock could rally to $19.50 per share and into the gap from March. A trade entry alert was issued to our Weekly Blitz Alerts members on June 28. After five trading sessions, a trade exit alert was sent for VST on July 7.
- +37.5% on VST (Aug. 20 $19 CALL).
- Entered on June 28 at $0.80 a contract.
- Exited on July 7 at $1.05 a contract.
Be sure and check out our Sweet Spot Stocks and Weekly Blitz Alerts strategies for more BIG winners like this!
If you have a big score you'd like to share with your fellow Future of Wealth readers, email us your screenshots of the trade and/or any details you want to share at wptestimonial@gmail.com, and we'll celebrate them here!
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Signing Off
If you're looking for more compelling trade ideas and stock market musings to read and help you prepare for what lies ahead, here's what other experts at WealthPress are saying:
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