Tackle Today: IPO’s this week | Tackle Trading
≈ Airbnb and DoorDash lead the names ≈
Traders,
There are a few notable companies that are having their Initial Public Offering (IPO) this week including DoorDash (Ticker: Dash) on Wednesday and Airbnb (Ticker: ABNB) Thursday as well as Roblox (Ticker: RBLX) rumored to be on Friday but most likely sometime this month.
When IPO’s hit the market, especially with companies that have recognizable brand names with products or services that many of us use, it can be exciting. But, it’s wise for any trader or investor to remember the lessons of past IPO’s. For every stock that IPO’s and goes gangbusters to the upside, there are many stocks that either fizzle or sell off.
After an IPO, a sensible approach to take is to wait for information, data, a chart pattern to develop and catch the opportunity after we can see how the dust has settled. For any trader, how long that is and how long that takes must be defined for themselves.
When watching these IPO’s come out, there’s nothing wrong with tracking the companies, adding them to watch lists and preparing for potential trades. But, don’t get swept up in the emotions alone. If you’re going to watch any IPO stock you should build a plan on how you’re going to approach it after launch.
#TeamTackle
Chart of the Day
Crude Oil Breakout
Crude Oil has had a wild ride in 2020 but recently has started to become more stable and bullish. It’s breaking out on Thursday, with the next resistance zone in the $49-$50 per barrel range.
Video of the day Swing Trading Hot Picks
Watch the replay of last night’s YouTube class where Coach Mark, Noah and Gino discuss some swing trading picks.
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Originally published at https://tackletrading.com on December 10, 2020.
