Weekly Wins! A New Column Highlighting Great Trades.
Weekly Wins showcases some of our team's top-performing ideas.
You've reached your free article limit
You've read 0 of 1 free Pro articles.
Welcome to Weekly Wins, a new column by TheStreet Pro. Each week, we will highlight a few great calls made by members of our incredible team.
The goal is to share different types of analyses and help our subscribers discover their next favorite analyst.
This week, we'd like to share four great calls made by three different analysts.
Brad Ginesin: Short GameStop
First, Brad Ginesin tackled everybody’s favorite meme stock. Sorry to disappoint those HODLers in the crowd but Brad doesn’t buy the bullish arguments for GameStop GME, at least, not right now.
Date: June 11th, 2024
Trade: Sell GME around $30
Why? GameStop’s capital raise solidified the balance sheet but left investors w/o a catalyst. Dilution also tempers stock rallies. Additionally, the excitement around the return of Roaring Kitty has worn off.
Result so far: Shares have fallen ~ 20%.
Read the original article here.
Brad Ginesin: NVDA vs. AAPL
Brad's second win was a pair trade based on the rebalance of the SPDR Technology Select Sector ETF XLK.
Date: June 20, 2024
Trade: Buy Apple AAPL, Short Nvidia NVDA.
Why? Brad expected NVDA to pullback once XLK buying concludes, similar to how it behaved in March. AAPL, on the other hand, would rebound, once selling had completed.
Results: As of Thursday, AAPL was up 3% and NVDA down 2%.
Read the original article here.
Bret Jensen: Buy Whirpool
Bret Jensen decided to wade into Whirlpool WHR at the end of May. His timing couldn't have been better!
Date: May 26, 2024
Trade: A covered call strategy (options) using the December $85 strikes
Why? A cheap P/E plus an 8% dividend yield combined with positive moves by management to short up costs and improve margins.
Results: On Wednesday, the stock rose just over 12% on the day after a report from Reuters that a report that German engineering group Robert Bosch was weighing a bid for the company. Plus, Bret says that WHR still makes a solid covered call trade in the low $90s.
Read the original article here.
James "Rev Shark" DePorre: Amazon
James "Rev Shark" DePorre tells us why Amazon AMZN is the most magnificent of the magnificent 7.
Date: June 24th 2024
Trade: Buy AMZN
Why? AMZN had made two prior attempts to clear $190 resistance. Third time would be the charm.
Results: AMZN broke out on solid volume Wednesday, was up 4% by Thursday’s close, before giving back some of the gains going into the weekend.
Read the original article here.