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And for our IPO wreck o’ the day, I present to you: Zoom Communications. Yet another Silicon Valley company which has never made a penny of profit yet managed to have a crazy-success IPO. Here’s the recent success that retail bagholders have managed to enjoy with this modern-day fiscal calamity.
Incidentally, a note to my Gold and Diamond members – – I’ve got a new published watchlist you might want to check out called “Recent Stocks”, which is where I’m keeping public unicorns like this.
Here are four stocks positioned right at key technical breakout points.
Horizon Therapeutics Public Limited Company (HZNP) climbed 92 cents to $28.20 on 2.3 million shares Tuesday, more than 1 1/2 times its average volume. The move, which came on no news from the drug maker targeting treatments for rare and rheumatic diseases, edged the stock out of a 2-month sideways channel. A break above the May high near $29.25 could get the stock to $32 next.
Seattle Genetics, Inc. (SGEN) rose 96 cents to $83.38 on 890,200 shares Tuesday. The move, on no news from the developer of cancer therapies, positioned the stock right at the declining tops line of its 2-week wedge pattern. A follow-through breaking out of the wedge could take the stock to $89.
With news out of a prospective $18 billion settlement in the works against opioid makers, McKesson (among others) is shooting higher this morning. I’d like to humbly suggest you consider this as a short idea. I actually went hunting for puts on this, but they have ungodly wide bid/ask spreads, so – – forget it!