There is One IPO You Can Trade Now
From March 29, 2022.
If you haven't noticed yet, the initial public offering (IPO) scene has been very, very quiet in 2022...
According to Bloomberg, the money raised for IPOs so far in 2022 is down 70% compared to the first three months of 2021.
If you're a trader, IPOs can often make for strong targets because they are usually volatile... and if you're a short-term trader, you WANT volatility.
Kenny Glick is the definition of a short-term trader, and he even has his own strategy for trading IPOs.
And it's insanely simple. Ready for it?...
If a stock that recently went public breaks its all-time high, BUY IT.
Despite the slowdown in IPOs this year, there is one stock he has on his watchlist for a potential trade with this ultra simple approach: BRC (BRCC), AKA Black Rifle Coffee.
The shares as of today are sitting right at the round $20 level, putting them within striking distance of their early highs near $23.
Based on Kenny's approach, if the shares rise above this area, it could spark an extended run high. Obviously, that's not always the case, but he's seen this same setup plenty of times before. These are especially attractive setups because there's no telling how high the stock could go, since it's all newly explored territory and there's no "technical resistance" overhead.
You can see the daily chart for BRCC from ThinkorSwim below. PLEASE remember that recent IPOs can be very volatile. Set your own targets and stops, as always, if this is a setup that interests you. And if you want more Kenny Glick, you can sign up for his free newsletter here.