To end the week, let’s examine the top twenty stocks Merrill Financial Advisors have been looking at into Friday’s trading session. We stay on top of data of this nature – before it hits CNBC.
We caught it for traders just like you…
| Ticker Code | Ticker Name | Ticker Industry | Price Change | Average Volume (50)* |
| WTRH | Waitr Holdings Inc | Conglomerates | 52.87% | 9,085,249 |
| TRIN | Trinity Exploration & Production PLC | Telecom Services | 18.94% | 1,276,055 |
| AAPL | Apple Inc. | Consumer Electronics | 17.85% | 39,071,047 |
| AYTU | Aytu Bioscience Inc | Biotechnology | 15.73% | 18,605,420 |
| NAK | Northern Dynasty Minerals Ltd | Other Industrial Metals & Mining | 50.00% | 3,670,537 |
| FRAN | Francesca’s Holdings Corp | Apparel Retail | 10.98% | 520,128 |
| NIO | Nio Inc – ADR | Auto Manufacturers | 19.42% | 31,561,022 |
| CHK | Chesapeake Energy Corporation | Oil & Gas E&P | -296.56% | 2,567,290 |
| RLMD | Relmada Therapeutics Inc | Drug Manufacturers – Specialty & Generic | 18.24% | 87,610 |
| TSLA | Tesla Inc | Auto Manufacturers | 34.77% | 18,019,858 |
| GILD | Gilead Sciences, Inc. | Drug Manufacturers – General | 3.20% | 23,740,329 |
| VTIQ | VECTOIQ ACQUISI/SH | Conglomerates | 58.74% | 3,559,982 |
| BA | Boeing Co | Aerospace & Defense | -21.73% | 35,592,940 |
| NBEV | New Age Beverages Corp | Beverages – Non-Alcoholic | -7.75% | 2,386,316 |
| NEPT | Neptune Wellness Solutions Inc | Drug Manufacturers – Specialty & Generic | 54.30% | 1,682,949 |
| CYDY | CytoDyn Inc | Pharmaceutical preparations | 11.00% | 9,149,421 |
| MVIS | Microvision, Inc. | Scientific & Technical Instruments | 81.11% | 41,519,836 |
| ROKU | Roku Inc | Pay TV | 24.97% | 13,374,031 |
| DHT | DHT Holdings Inc | Oil & Gas Midstream | -22.13% | 7,094,383 |
| AMD | Advanced Micro Devices, Inc. | Semiconductors | 16.57% | 74,756,766 |
Myriad investors and traders alike have been buying shares of VectoIQ Acquisition Corp (NYSE: VTIQ) under the impression that the company’s market cap is just $900 Million, as often indicated on stock market research websites.
After doing some digging on my end, it comes as no surprise that VTIQ is high on the radar of Merrill Financial Advisors…
There could be some serious false reporting going on!
VectoIQ Acquisition Corp has:
- Just $482k in annual revenue
- 300 employees
- Recently received a multi-million dollar small business loan (and refused to pay it back, claiming it would need it to make payroll).
Adding those bullets up, that doesn’t sound like a company worth a $12B valuation and a $900M market cap…
Not exactly a Tesla ($700M+ in annual revenue), wouldn’t you agree?
I believe that as a result of some serious question marks in the true valuation and market cap of VTIQ, hedge funds and institutions may be selling out of their positions in VTIQ in the very near future.
In fact, you may notice on the chart below the decrease in price-per-share by over 20% in the last two trading days alone… I believe institutions are starting to take note and may be planning on making short-term bets against VTIQ in the near future.
I plan on making momentum-based trades on VTIQ to catch a piece of this price action as well. As a stock market veteran, something is fishy about this company’s reporting, and I expect volatile price action in the stock to come as a result.
A simple fibonacci retracement of VTIQ’s recent price action would indicate a pivotal spot for the stock itself at $23.67/share.
Should price trend above that level, I’ll treat it as a support level and I’ll be interested in making a bullish day-trade.
Below that level, $23.67/share becomes resistance and I’ll be interested in making a bearish trade.
Yours for TrackStar trading,
Davis Martin
America’s #1 Premarket and Day Trader
Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.