Global-e Online: Strong Price Action in Recent IPO
A lot of recent IPOs have struggled, but strong price action has stood out in one particular firm: Global-e Online.
GLBE went public for $25 on May 11. That doesn’t provide much price history to analyze, but some patterns stand out.
First, the stock ripped to new highs in late June, then pulled back to hold its rising 21-day exponential moving average (EMA).
Second, notice how it bounced slightly above $51 on July 6 and 8. That was the high on June 16, which suggests old resistance has become new support. Previous stair-stepping occurred around $33.25, $35.75, $39.50 and $45.
GLBE is closely associated with
SHOP
, helping smaller businesses compete globally. Revenue more than doubled in the last year. The growth story could be especially interesting, given its access to this immerse but fragmented market.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
GLBE went public for $25 on May 11. That doesn’t provide much price history to analyze, but some patterns stand out.
First, the stock ripped to new highs in late June, then pulled back to hold its rising 21-day exponential moving average (EMA).
Second, notice how it bounced slightly above $51 on July 6 and 8. That was the high on June 16, which suggests old resistance has become new support. Previous stair-stepping occurred around $33.25, $35.75, $39.50 and $45.
GLBE is closely associated with
SHOP
, helping smaller businesses compete globally. Revenue more than doubled in the last year. The growth story could be especially interesting, given its access to this immerse but fragmented market. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.