QCOR rose over 13% in yesterday's trade as it saw an increase in its Acthar drug shipments and a price target upgrade to $60 at Jefferies. In today's trade, QCOR has so far plunged more than 20% due to a report that says its Acthar drug has a much lower barrier of entry, thus making profits at QCOR vulnerable.
Price action of the last two days in QCOR illustrate a point- even if a stock breaks out on big volume and looks fine, all it takes is one day to reverse course, especially if done so on heavy volume. In such a case, selling at least half if not the whole of one's position is prudent. Big volume selling in QCOR began around the 55 price level. Once QCOR hit 50, reversing the big gain it made yesterday on big volume, that was a red flag to sell at least half if not the whole position.
As we have suggested, having computer and/or mobile email alerts set on all of your positions when investing in stocks is advised.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.