Here's another prime example of why nanocap stocks are easy shorts for traders who have balls to step in front of the train. Today HTG Molecular Diagnostics ($HTGM stock) announced a vague development program with some big German companies. No concrete financial terms were mentioned at all in the press release. This for us was a clue to get short on any possible price rips $HTGM may have that day. In addition, if you look at its daily chart, all the days it had big pops (+30% price increases) the stock was easily squashed back down meaning big gains never hold for $HTGM. Financially, the company doesn't make a dime either (-$22.1M EBITDA) adding to our conviction the company is a piece of garbage.
We shorted the stock into strength because we knew it was going to come back down after the sheep longs find out that they are holding the bag on this turd. Covered into weakness as expected and made a nice handsome profit. All trades and ideas are called out and executed live in the MookTrader stock chat room. Come trade with us!
Net Profit on this trade: +$8.048