UPXI’s Wild Ride: A Trading Opportunity in the ChaosPosted by Barrie Einarson

UPXI’s Wild Ride: A Trading Opportunity in the ChaosPosted by Barrie Einarson

Oct 25, 2024

Hey, everyone!

Today was a bit of a wild one with UPXI. Here’s what happened: UPXI’s CEO made a splash, calling out certain players for allegedly manipulating the stock. This followed a recent reverse split, and let me tell you, it really set the market off. We saw UPXI rocket up to $15.89 from a pre-market level around $3.20 – definitely the kind of action that gets traders talking.To Subscribe: https://go.trade-ideas.com/SHQ
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So, here’s where it got interesting. I decided to take a short position at $13.76 before the stock really started pulling back, and it dropped down to $9. Now, I know some of you may be thinking, “If only I’d had shorts available!” And you’re not alone. Shares can be tough to come by with these low-float stocks. But firms like CenterPoint, Cobra, and TradeZero often have a solid selection, especially when it comes to hard-to-borrow shares.

If you had access to a broker with those shorts ready, you probably saw the same opportunity. UPXI’s high volatility made this a prime setup, but, as always, we know these things can swing back around. Keep your eyes on it – stocks like this have a habit of springing back for another shot.

Let’s see what Monday brings. Until then, enjoy the weekend, everyone!