With only a 3 billion market cap this stock has potential to rocket from retail money. Love the ticker. This stock has already had a huge rally this year and I expect it to continue and become a new meme stock of sorts, fueled by hype for the AI sector. Target is 109, the price it reached on it's IPO day.
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To be clear, this trade is on pure speculation about the AI hype cycle continuing. It has nothing to do with financials. For me, it is a small position, risking 1% of my total account if I get stopped out.
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Looking good, I was close to getting stopped out after opening the trade, but the $19 level proved to be a good choice for the stop. For more volatile names like this it is important to give them more room.
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Things are getting interesting. I have this trade on and am waiting to see what next week brings.
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I will sell half the shares on any close under 33 now. the rest i will keep as an investment and hold. until i change my mind or make a lot of money
Not sure if you saw my posted comment but.... Ridiculous price on ai at $40.00... It's P/E Ratio is over 45 and Tesla is only at 42... Think about it. Huge correction coming for ai possibly all the way back down to $19.00
inanis_
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@grahammk, p/e ratio is only one thing that goes into price. for a stock like this it's a little one. ai is the story this stock is a story stock and the story is ai is taking over. p/e means little for price action of a stock like this. if yous in the trade and want to manage risk i'd raise stop to a close under 33.
grahammk
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@mikadotime, Hope you took profits off the table near the top... It was screaming sell.
inanis_
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@grahammk, ha why would you hope about something outside of yous control? i'm still in the trade, it has not closed under 33.
redapple2017
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What’s ur stop? I set stop at 26
inanis_
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@redapple2017, i'm giving it some room, a weekly close under 19
Maddy50
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@mikadotime still 100 plus possible ??
inanis_
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@Maddy50, it's possible of course. this is only a 4-5 billion market cap, things this size can have nutty moves as we saw with gme and amc. especially the ones with narratives like those and this one. ai innovation and disruption is the headline of the decade probably. gotta be patient. raised my stop to lock in profit on this trade. i will sell on a close under 33 now. and keep watching for a reentry later if i get stopped