Canadian Solar Shines Bright as China Offering Sparks Trading Surge
Hey, Reader,
With markets closed for Memorial Day, the short trading week kicked off with a major gap up at the open…
We saw some fantastic trading with a nice move in tech and growth names like our old friends AI! But even with the tape dropping back around where we closed Friday, we’re seeing a ton of names flood the scanner to start the holiday-shortened week…
Those names include green energy company Canadian Solar, which got a nice pop in the first 30 minutes of Tuesday’s trading after making its first offering of shares on the Shanghai stock exchange!
With shares leaping as high as 4% over Friday’s closing price, my scanner spotted one degenerate trader scooping up about 3,200 contracts of the July 21 expiration, $50 strike calls for just shy of $400,000 in premium!
With the market closed to start the week and a number of companies reporting earnings after Wednesday’s close…
We should see a FLOOD of activity hammer the market in that last hour of trading… Remember, Wednesday is the last day of the month, and I suspect the traders on Wall Street are going to hammer those earnings dates in order to squeeze out the last bit of profits before June comes.
A few tickers I’m particularly bullish on right now are CHWY, CRM and AI.
If they hit the scanner ahead of those reports, I’ll be all over them.
So if you want to trade Wednesday’s close with me starting at 3 p.m. ET, live in my trade room, you’re just a quick click away…
A Direct Way to Invest in the AI on Roundtable Don Yocham, Jeffrey Muller, Roger Scott, and Celeste Lindman discuss an aggressive Federal Reserve and a ground-floor opportunity to play the AI wave on tomorrow’s “Roundtable.” Catch it right here, 11am ET Wednesday.
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Lance here. Are you ready for some jaw-dropping moves that will make your head spin? Well, buckle up…
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