My call of PLUG as a potential long was horrible. Yesterday it did gain nicely but it spiked in the morning (reaching its high around 10am) and then faded all day. The fade has continued today, albeit more gradually. A stock that spikes quickly and then fades all day is not likely to continue its upward move.
To correct what I said in the video, IMGG’s stock dilution from the PIPE they announced two days ago was only 40%, not 100%. Still, that is crazy dilution. With 370 million shares outstanding now the company has a market cap of $260 million.
Daily profit: $50.00
Weekly profit: ($380.64)
Disclosure: Short 5000 shares of IMGG. I have a disclosure policy.