Today, we’re picking up where we left off with Bank It or Tank It in 2021.
Just by studying the key levels of your favorite stocks, and using my Profit Radar, we were able to spot a lot of potential double-digit moves throughout the year.
But this year, we’re adding another insight — unusual options activity.
This gives us whole new level of sentiment on the stock, and possibly a few more trade ideas as we dive into my Bank It or Tank It analysis.
Bank It or Tank It: Big Money Trades
Since this is our first Bank It or Tank It in 2022, we are also officially adding our options scanner to the list.
And thanks to your feedback from last Thursday, I have plenty of stocks to cover in the weeks ahead. Click right here or the thumbnail below to check it out!
Today I’m looking at five stocks you all recommended, with one of the featured stocks being electric charging company ChargePoint Holdings (Nasdaq: CHPT).
This is a popular company thanks to the growth in electric vehicles and surging demand for charging. But it doesn’t hurt that the stock went on a massive 350%-plus rally to close out 2020.
However, since then, the stock has dropped 65% from that peak, making it a severe underperformer in 2021.
As we head into 2022, we’ll use my Bank It or Tank It analysis to break down which direction you can expect the stock to head from here.
On ChargePoint alone, we are still running through my usual Bank It or Tank It analysis, such as the key levels to watch, my Profit Radar, and the expectations. But I’ll also discuss the unusual options activity I spotted.
Then there are four more stocks we cover today, including GameStop (GME), Danimer Scientific (DNMR), and more.
Click right here to see my latest Bank It or Tank It video, and see how we incorporate some unusual activity into my overall insights.
Chad Shoop, CMT
Editor, Quick Hit Profits
Chart of the Day:
(Click here to view larger image.)
Buzzfeed (BZFD) has to be the craziest chart in the market right now.
It IPO’d on December 6. On that day the stock had a 40%+ trading range — from a peak over $14, to a trough under $8. This looks even more extreme due to the year of stable price action before its IPO, which for some reason we have data for.
But since that IPO, it’s been just a devastating smackdown lower. The stock has lost more than half of its value since it debuted just a month ago.
So, let’s think. Buzzfeed is a pretty significant media brand. It will likely persist into the future for quite some time. Is today’s valuation a deal… or about where it should be? And is it worth a trade?
I sent this over to our True Options Masters yesterday for their take — consider it a mini Options Arena. And they were quite split on the issue.
Chad says he wouldn’t try catching it right now. Mike Carr thinks it could be a nice speculation based on the Fibonacci retracement. And Amber’s proprietary volatility indicator is showing a buy signal.
What do you think? Time to go knife-catching with BZFD? Write me your thoughts at TrueOptions@BanyanHill.com!
Managing Editor, True Options Masters