LCI trade for 8/24/2016

Posted By JM on Aug 24, 2016 | 0 comments

Lannett ($LCI stock) was a long swing favorite of ours around $20 earlier this year when anything biotech-related got smoked. In just a few months time it has risen almost 100% since our position trade in the chatroom. $LCI reported great earnings and raised guidance for the year yesterday after the close. We felt this was going to be an opportune time to take profits in the name by big fund holders who bought on the dip back then so we decided to get short today into strength.

We shorted 1600 $LCI at $39.39 and covered on the way down like clockwork. Easy trade for sure! All trades done in the MookTrader stock chatroom are called out live as they happen so that members can watch / learn / shadow them for big gains.

Net Profit: +$2,940


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