| Hey traders, Lance Ippolito here! Welcome to our Weekly Rundown, where we'll share some of our top trading ideas — and our biggest winners!
Calling all traders! The latest and greatest IPO is here, so let's talk about the hype surrounding online gaming platform Roblox, and whether it's still a "buy"…
This recent initial public offering (IPO) received analyst upgrades from pretty much every large investment bank out there.
Now, before we address what this means moving forward, let's break down Roblox's IPO process…
The stock opened for trading on March 10 with a listing price of $45 per share. But by midday, the stock had leapt over 50% and ended up closing at $69.50.
When I first covered it, Roblox Corp. (NYSE: RBLX) was up over 6% on the week and trading right around $73 a share as of Friday morning.
On Tuesday, it cleared $82.
So now that the stock has all this bullish analyst coverage, you may be wondering…
Is Roblox Still a Buy?
Wall Street certainly wants you to think their new "darling" stock is. Because they were in on the stock when it was $40, $50, likely even cheaper than that on the private market.
So what do they do? They all come out with "Buy, buy, buy" ratings. They want to portray this as the next best thing for your portfolio…
But what are the people "in the know" doing? A company insider has even come out and said that he would not buy at these elevated prices… He admitted that this valuation is insane, he's selling and there's no chance he would be a buyer at these prices.
All while you're being told there's still upside. All while the Wall Street fat cats that got in on the private market likely make triple-digit gains selling off.
So, my position here is pretty clear… If you have to chase the new IPO, be careful at bare minimum, but you know where I stand…
Now on to some...
BIG Wins
We saw big, repeat call buying in MPC on April 8. The first order was 2,300 $55 call contracts for $.070, which is about a $166,000 bet! Then we saw 1,147 of the $54.50 calls go for $0.96, another $110,000 investment in call premium.
MPC had a strong daily chart with the stock in consolidation and market makers implying a +/- $2.43 move on the stock over the next eight trading days. After a rough few days, these calls bounced 375% to 400% Friday! You have to trust the process, and trust the order flow!
+40% on MPC (April $XX CALL). Entered on April 8 at $0.75 a contract. Exited on April 16 at $1.05 a contract
The next big winner came on the second half of call order on ADT Inc. (NYSE: ADT), which saw two insider stock purchases on March 5. The CEO of the company invested just over $1 million, and the Executive Vice President bought about $50,000 worth of stock. When insiders buy, we follow!
We sold half our contracts for a 43% gain on April 5, then cashed these babies in for another 90% in gain on Friday! This was a fantastic trade as the underlying stock rose about 20%!
+91.3% on ADT (May 21 $7.50 CALL).
Entered on March 17 at $1.15 a contract. Exited the second half of this trade on April 16 at $2.20 a contract
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!
Get In… Get Out… Get Paid Each Week
That's how it was ALWAYS supposed to be. And now I've made that process a whole lot easier.
My data shows this unique market circumstance is tied to just 19% of publicly traded companies.
But that hasn't stopped my members from finding massive success simply by positioning themselves in front of these lucrative "Breakout Dates."
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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