In Thursday’s Blitz Daily with Lance Ippolito, we take a look at online retail giant Shopify as shares struggle from its recent stock split.
We had a super busy Thursday with the bulls fighting for control after a BIG gap down at the open… and the tape has been printing nonstop!
One name that can’t seem to stay off of my scanners is e-commerce powerhouse Shopify.
The e-commerce powerhouse saw its shares plummet more than 15% from its June 24, $38.52 closing price in the run up to Wednesday’s 10:1 stock split... And things aren’t slowing down Thursday with shares falling another 3%.
Both Shopify and Amazon — which completed its stock split on June 6 — were popular targets for bearish traders Thursday, with one big spender unloading on Shopify puts!
Of course, that’s just a taste of the unusual options activity burning up Thursday’s tape...
No one wants to work Saturday and Sunday, we get it...
Traders from Wall Street to home offices grind it out Monday through Friday, just waiting for the weekend.
But here’s a secret…
They’re neglecting the fact that great trades may be up for grabs.
And New Money Crew Head Trader Lance Ippolito discovered a rinse-and-repeat plan that anyone with a cell phone and a brokerage account can take advantage of, even on a weekly basis.
Did you miss this week’s WealthPress Live Roundtable? Catch the replay video below…
And be sure to join WealthPress Senior Strategist Roger Scott, Joy of the Trade’s Jeff Zananiri and me each Wednesday at 11:30 a.m. EDT for the WealthPress Live Roundtable, where we’ll discuss the biggest topics on Wall Street.
In this week’s roundtable, we covered:
Current market conditions and the long bond’s effect on it.
China’s reopening and why it’s big, bullish news for the U.S. economy — and a few stocks to play it.
The trend in retail stocks following Bed Bath & Beyond’s poor earnings report.
Unusual options activity Lance has been seeing of late.
Roger also gave away a free trade idea in the S&P 500 that has almost 70% historical accuracy!
And more!
Be sure and tune in every Wednesday at 11:30 a.m. EDT for the WealthPress LIVE Roundtable!
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