2-5-2021 This stock started selling high volume at end of trading session. Large orders of 2+ million began coming in. "Thats not your aunt Helen's money".
Bought at 5.22 ; sold 1/2 positon @ 5.91 and 6.16. The stock then went on to trade up to 8.61 in after hours. I expect the price to be very volitile in early morning trading on Monday.
My average cost on remaining shares is 4.22. I don't expect it to drop below the closing price of 5.25. This is a risky venture (buying on such a large advance) but I took the trade for these 3 reasons: 1. High volume at end of trading day on Friday when most are usually trying to close positions. This is what NVAX did on Thursday 1/28/2021. Sensing a similar path. 2. Looked like institutions really wanted this stock based on volume and large orders of over 2 million. 3. Catylst .. Covid Vaccine that might be safe for children. I usually dont chase a stock but this one was irresistable.
This is not trading advice. Make your own trading decisions based on your research. This is for educational purposes so I am open to any comments on this trade.
Thanks for the heads up. Don't you think that the COVID-19 vaccine news could be used to manipulate the market in the sense that institutions like you mentioned wants the stocks to rally and then short them?
Tea-Trades
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@al3jandrus, Thank you for the comment. You could be right. This could be highly manipulated and that is why I don't usually take trades like this. I would hope most institutions have better ways to make money in this market.