Update on Trade Opportunities: Sell BRBR, Buy TVTX, Hold LSPD
We jumped into Bellring Brands (BRBR) as a trade in September and the stock has slid since. It’s down less than 10%, but the trajectory is clearly not working in our favor and I’m not going to let a trade attempt turn into something significant. We’re moving on. SELL
Our second trade opportunity, Travere Therapeutics (TVTX), is continuing to work and is up almost 10%. Keeping at buy. BUY
Finally, we’re continuing to keep an eye on Lightspeed (LSPD) which was the subject of a recent short report. Typically, in these situations I like to give a stock (and management) some time to show what they’re made of. Often, short reports come at times when investors are on edge to begin with, and this one held to that strategy. We have an earnings date in early November. If LSPD were to recover 10% to 15% in the next week or two I think that would help draw in some money, so let’s see how next week begins and go from there. All this said, I don’t think the risk vs. reward is worth it at the moment so Lightspeed is a hold. It’s trading right near our entry point. HOLD