LUNA – Reiterating at BUY
Terra (LUNA)
is demonstrating very strong intraday price action – moving from $82 to $87. It is now up over 8% on a day when other names are flat or negative. LUNA is outperforming broader indices.
Since first recommending LUNA several weeks ago, price has been volatile. Today, we reiterate our conviction in holding LUNA over a multi-year period.
If you purchased a partial position in LUNA above today’s current price, we see it as a strong opportunity to continue to average into the name and build towards a full position.
Due to LUNA’s recent large purchase of BTC, we see LUNA as a more attractive way to gain exposure to Bitcoin, while benefitting from the continued adoption of Terra’s ecosystem of stablecoins and cryptocurrency.
Daily Chart
