Shared by
beno
Fundamentals
New company focused on long term growth in space exploration, no revenues, pure speculation.
Catalysts / News / Painting the picture
-Up swing fueled by below Dec 10 2019 Morgan Stanley comments:
-Morgan Stanley Bullish On Virgin Galactic, Says Space Tourism Is Incubator For Hypersonic Travel
-SPCE has caught the eyes of many traders lately, also been in the news as the stock to beat TSLA's run
-May 05 2020: Earnings - strong cash position, more then $400m in cash, no meaningful revenues, still growth company
-May 06 2020: CEO on TV
Technical Analysis
-SPY pattern: Runner
-Intraday pattern: Runner
-Levels: 15.2, 15.8, 16, 16.5
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test long of 15.6 level
Confluence: N/a
Strike Zone: 15.64 - 15.5
Sizing (lots): 1
Risk (stop / Rs): Hold below 15.5
Review / Lessons Learned
Got in but saw how weak it was and bailed early.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-06-03 10:04:34 | SPCE | buy | $15.620 | long |
| 2020-06-03 10:09:40 | SPCE | sell | $15.660 | long |
| 2020-06-03 10:09:40 | SPCE | sell | $15.660 | 0 |
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