LCI trade for 3/24/2016

Posted By JM on Mar 24, 2016 | 0 comments

We told our members the entire past week that we would buy Lannett ($LCI stock) the day it releases its much anticipated revised earnings outlook. Today was the day. $LCI finally lowered revenue guidance by around -5%. It wasn't a disaster and much widely expected so we decided to buy the news into weakness.

Entered the stock at $17.20 when the tape told us a buyer was scooping up stock in the low $17s, and rode all the way up to $18.50. Net profit +$3555.


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