60% UP, I SOLD!
I've talked a bit on this blog about how I trade stocks with catalysts, specifically bio/pharm stocks with FDA approvals in the works! A quick summary, I buy them in advance by about 6 months, and sell a few days before the news comes out! Sometimes, like with this stock, they run up so much before the catalyst that I sell part of my shares because I don't want any bad news to effect the stock price. Now I haven't perfected this form of trading yet; so I'm not using a ton of money. Usually about $80-$100 for the first investment, and if it goes down significantly I'll average down with about $50 more, if there is still hope for it. These is all done through hours of researching the stock on Twitter as well as other internet forums and sources that are predicting how much the drug could make if its approved.
The ticker I bought this time is $SPPI and it has been doing really well. I love when these stocks move 5%-10% a day instead of running up all at once. I'll including a photo of the stocks chart from when I bought it to when I sold most of my shares down below to show how crazy this thing has been moving. It did have some down days among all the running days, but that's a healthy pullback which only helps the stock in the long run. I still have about $30 invested in $SPPI which I will hold until the news comes out, and potentially after if the news is pointing towards positive.
I love how the market is shifting into a more bullish trend now. It helps these smaller stocks to run more when they do run. That's basically I have to say today! A short but very sweet post because it's been a long week and I need to sleep. TikTok has been pretty bad with my views lately so if you didn't come from there go spam the account please! I'm glad the community is growing as it is, and hopefully more people join in to make this thing great! I'll update again on $SPPI once the FDA news comes out and we will see how the stock reacts! Thanks for reading!
$SPPI from purchase price to when I sold today! Also it's up 5% more in the after hours.