Hello traders, Barrie Einarson here from Trade Ideas with today’s edition of “What Makes This Trade Great.”To Subscribe: https://go.trade-ideas.com/SHQ
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I have to say, I didn’t expect to be doing a video today, especially since I didn’t do one yesterday. But how could I not talk about the explosive move in Koss Corporation (KOSS) today? This stock has taken off like a rocket, and it’s worth diving into what’s happening.

As we speak, KOSS is in a trading halt due to its incredible volatility. The stock surged from $5 in the pre-market all the way up to $15.67. Yes, you heard that right! It’s a significant jump, and it has everyone’s attention.

For those wondering how they could have spotted KOSS, it’s been showing up on momentum scans consistently. This is one of those stocks that you just can’t ignore if you’re scanning for high-momentum plays. Today, it’s gone through 17 races, making it a standout performer.

KOSS isn’t a stranger to dramatic moves. It was one of the original meme stocks that took off back in January 2021 alongside GameStop (GME). For a few days, KOSS actually outperformed GME in terms of percentage gains. However, unlike GME, KOSS didn’t sustain its momentum and drifted down over time.

Let’s take a quick look at the monthly chart to see what I mean. If you check out the spike from that period, KOSS hit $127 at one point. In pre-market or post-market trading, it might have even reached $150 or $160. But after that initial frenzy, the stock didn’t maintain its highs and settled back down, unlike GME, which continued to make headlines.

Today’s movement is a reminder of KOSS’s potential to make big moves, even if it has been somewhat of a forgotten meme stock. It’s too early to predict what will happen next week, but it’s definitely one to keep an eye on.

Before I go, I want to take a moment to wish all my American friends a Happy Fourth of July. Enjoy the day off! I’ll be back in the trading room on Friday morning at 9 o’clock, ready to catch up on all the action.

Have a great day and see you Friday morning!

Barrie Einarson