Short Adds
I added to my Index shorts:
* SPY ($SPY) $751.49
* QQQ ($QQQ) $734.53
Positions: Short SPY M QQQ M
More Positive Cannabis News
Glass House Brands announces its intention to gain a NYSE uplisting ($GLASF)
Position: Long GLASF S
Upside, Downside Movers in the Morning
Upside:
-QURE +82% (FDA says 3-year Phase I/II AMT-130 data can support BLA for accelerated approval in Huntington’s disease)
-FTHM +63% (to be acquired by Bed Bath & Beyond in all-stock deal valued at about $53.38M)
-LZB +18% (earnings, guidance)
-AEHR +9.7% (receives follow-on order for FOX-XP wafer-level burn-in system)
-ASTS +5.5% (launches BlueBirds 8, 9 and 10 satellites)
-GNK +5.5% (Diana Shipping raises Genco offer 10% to $27.34/share)
-INTC +3.7% (reportedly as company begins production of its most advanced chip (18A-P) it inches closer to possible Apple deal)
-AMD +3.0% (sector strength)
-FIG +2.9% (CitiGroup Initiates FIG with Buy, price target: $36)
-PGR +2.6% (reports May net premiums written)
-KMX +2.3% (earnings, color)
-SPCX +2.0% (momentum)
-ALOT n/a (Trading halted; to be acquired by Arcline for $29.00/shr cash, $272M enterprise value)
Downside:
-BBBY -9.2% (FTHM to be acquired by Bed Bath & Beyond in all-stock deal valued at about $53.38M)
-ORA -6.0% (Bernstein initiated Underperform, Price target $115)
-CME -3.9% (names Lynne Fitzpatrick as new CEO)
-DUOT -2.9% (files to sell 2M common shares and pre-funded warrants for up to 3,800,000 shares)
Positions: None.
Charting the Premarket Percent Movers
Positions: None.
Treasury Auctions, Economic Calendar
Treasury Auctions:
11:30 a.m.: Treasury Hosts a $69B 17-Week Bill Auction
Economic Calendar:
Positions: None.
Adding to Our Netflix Position After Lionsgate Update
The streaming giant has been tied to an acquisition of the revered studio.
Favorite Long, Favorite Short
Favorite Long Verano Holdings: ($VRNOD) (5-1 estimated reward vs. risk)
Favorite Short Fundstrat Granny Shots US Large Cap ETF: ($GRNY) (21/2-1 estimated reward vs. risk)
Positions: Long VRNOD S; Short GRNY M
Shaking and Baking With Amazon
Cal Naughton, Jr.: Shake and bake!
Ricky Bobby: What does that do? Does that blow your mind? That just happened!
– Talladega Nights: Shake and bake HD CLIP
I repurchased Amazon ($AMZN) at about $236.57 late last week.
I am taking some of the long off at $246.15 in premarket trading now.
This is my fourth or fifth successful positioning in Bezos’ company in the last 12-18 months.
The cumulative gains in trading far exceed the overall performance were I to have bought and hold over the last year.
Shake and Bake.
It rhymes.
They are both verbs...
Position: AMZN VS