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IPO Trading Review for the Week of August 23-27, 2021

August 29th, 2021

What started out looking like a blank slate for IPOs turned out to provide 2 IPOs with huge profit potential. While I passed on one (which would have been pretty hard to catch anyway), I nailed the second one, and congratulations to those of you who caught it as well: I did sent out a DD and strategy guide the night before. So keep an eye on your inbox throughout the week for sneaker IPOs that show up unannounced and play them accordingly.

Reminder: I’ll be appearing on Benzina’s Pre-Market Prep show at 9:00 AM EST on Monday, August 30, 2021 to review last week’s winning trades and give a preview of IPOs coming up in the week ahead.

Link Here:
https://www.youtube.com/watch?v=gvLQG4yspBs

RenovoRX (RNXT) debuted at $8.25 and was too hot to touch at that price point. The move here was to wait for it to bottom out, which looked to be at the $7.00 point… though my mental play (I didn’t actually trade this one), would be to take a starter position at the first baseline and build your position on any large red 1-minute candles from there: so if you added to your position in the $6.66 – $6.85 range, your ultimate win was that much more substantial.
This one did go into a recovery run in the early afternoon, with a peak up at $7.97: which would have give a nice $1 win for the savvy swing trader.
But the real fireworks came in the Day 2 pre-market, with a pop as high as $17.00 at 4:45 AM EST. Bear in mind that only 9.6k shares actually traded in this minute, and the range was between $13.62 to $17.00 in that minute, so don’t go kicking yourself for not raking in a small fortune if you missed this trade (I also didn’t play it). The bigger takeaway here is that for these low-float stocks, trading with an account that has early pre-market trading gives you an advantage for profit taking on the Day 2 early pre-market spike.
By the time most trading platforms opened up (7:00 AM EST), the price had dropped to $10.80 and spiked down sharply from there within minutes. By the time the market opened, it was down to $8.26, and after a brief run on the bell into a halt at $9.80, it halted downward from there, and closed at $7.71.
So, still solid opportunities to make profits, even if you could only trade during market hours, but clearly the early pre-market offered a better exit.

SeqLL (SQL) was featured in a newsblast I sent out last Thursday with some DD and insights on how I was going to approach it. Given the way that RNXT had performed, as well as DATS two weeks before, and the general hype around low-float stocks during the week, I was ready to get into SQL if I could undercut the IPO price.IPO Trading Review for the Week of August 23-27, 2021.
The IPO was priced at $4.25, and although WeBull bungled this IPO (wasn’t available to buy all day and didn’t have the Pre-Debut Indication Price), I set a series of ‘ladder trades’ at $10.00, $4.05, $3.85, $3.55 $3.40, $3.23, and $3.05
This is a strategy that will ensure I get some shares right off the debut, and will average down my cost if the price drops off the debut, as I expected.
As it was, SQL debuted at $3.45 and dropped momentarily to $3.30, so about 70% of my maximum position limit got filled, and then it spiked up right away into a halt at $3.75. I resisted the urge to take any profits out from the halt, which was ultimately rewarded, though it was tempting to exit at least a partial position when it opened at $4.30 and ran up to $4.73: within a few cents of a second halt. It then traded in the $3.80 to $4.20 range for most of the rest of the day, before pushing into a power hour run to close at $4.54
In after-market trading it reached as high as $5.26, and it looks like trading groups are already starting to target this one… plus it’s a Maxim Group IPO, so there are whispers of an underwriter squeeze coming into play… same group as was behind the RGC IPO.

AGAIN – Catch me on Benzinga Pre-Market Prep tomorrow (August 30, 2021) at 9:00 AM EST:

Link Here:
https://www.youtube.com/watch?v=gvLQG4yspBs

NOTE: I’m not a financial advisor, and this is not financial advice: just informatin for you to do with as you wish. Trading stocks is risky, and I may have or make take positions in equities mentioned in this newsletter. Good Luck!!

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