First off, I really know nothing about stocks. I have held SPY and some large cap funds for 10 years and those have done well. Lately I have been setting aside a very small amount of cash to more or less gamble with. My strategy is simple and makes no sense: at the end of the day or the end of the week I look for stocks that are either at all time lows, have the biggest decrease by % of the entire market, or the biggest increase by % of the market. I look for stocks whose names I recognize.
Two weeks ago Docusign $Docu was at its all time low for the year and had the biggest decrease for the day and was trading around $75. It ended up at $95 by the end of the week. I asked Reddit if it's a buy and you said no and because I have no real friends, role models, or conviction of my own I adhered to the advice.
Last Friday I saw Redbox ($RDBX) show up as a company that increased the most by % for the day. It increased by 50% last Friday. It was still trading near all time lows around $2.69 down from around $27.00 three months earlier. I'm thinking to myself this may start to rally. I looked at financials and they did not look stellar but apparently they are projecting $600m in revenue this year. The market cap for the company is only $122m. This seems like a good sign, but can we trust projected revenue? There also seems to be quite a bit of sentiment around this company after googling it and apparently there is a small community thinking this stock will rally. One guy named HickDawg on Stocktwits.com called it a once in a lifetime opportunity.
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