We don't usually trade large-cap stocks.
Anything over $10 per share usually doesn't spike enough to grab our attention.
But we found a ticker today that fell way off of its highs. The volatility is impressive considering the share price is around $30.
Today Foot Locker Inc. (NYSE: FL) announced a smaller sales forecast than previously expected. And the price tanked more than 25%.
Here are the details.
Yes, this is a bearish catalyst.
But we've seen bearish meme stocks turn into huge short squeezes before … and FL has the vibe of other retail meme stocks …
- GameStop Corporation (NYSE: GME)
- AMC Entertainment Holdings Inc. (NYSE: AMC)
- Bed Bath & Beyond Inc. (OTC: BBBYQ)
Keep an eye out for a possible price reversal.
It's no guarantee, but if we don't prepare it'll lead to a last-minute scramble.
That's where mistakes happen.
Post a Comment
Post a Comment