Exploring a High Roller Stock: SSNT

Exploring a High Roller Stock: SSNT

Dec 4, 2023

Hello! I am Barrie Einarson, your trusted advisor from Trade Ideas. Today, I’m back with another edition of ‘What Makes This Trade Great‘, and this time we’re discussing a stock we came across during pre-market hours – SSNT.To Subscribe: https://go.trade-ideas.com/SHQ
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Pre-Market Astonishmen

During pre-market hours, a time when we get our first indications of how stocks might perform throughout the day, SSNT took us by surprise. This stock accordingly gave us quite the spectacle. After closing at 369 the previous Friday, it skyrocketed up to 1396 during pre-market hours on Monday.

Why So Volatile?

If you’re as intrigued as we were by this sudden surge, there’s a piece of news that might pique your interest. There’s talk swirling around a $1 billion investment being funneled into SSNT. While it’s unclear who the investor is, what matters is the impact this news has on the market, stirring intrigue and catching attention from the trading community.

However, let’s not get ahead of ourselves and think that this was a simple, smooth-sailing trade. Quite the contrary actually, it proved to be a rough ride…

Weathering the Storm

Take a glance at this chart:

The high volatility, evident from the numerous topping and bottoming tails, didn’t make it an easy trade. There’s a possibility of a breakthrough above the 1180 area, possibly near 1189, towards the end of the day or, more specifically, in the last couple of hours. Who knows? It could pop through and possibly reach that illustrious 14 benchmark.

With this stock’s volatility, many of us took the plunge and entered this trade. Admittedly, it wasn’t a cakewalk holding onto due to the stock’s highly volatile nature. Nonetheless, as of now, the stock is up by a whopping 187%.

A Low Float Mania

SSNT is a prime example of what we call a “low float mania“. With a mere 3 million shares available for trading, also known as the float, SSNT is another addition to a string of stocks that are causing a stir in the market right now. The fewer the shares available for trading, the higher the volatility.

As with all stocks with low floats, the mania can be as profitable as it is risky. Will the SSNT stock maintain its high, or will it return to where it began? Only time will tell.

In conclusion, navigating these volatile low-float trades isn’t everyone’s cup of tea. However, that’s indeed what makes trading so exciting and profitable for those who can thrive in these choppy waters.

So, all the best, traders! Let’s meet again soon with another exciting stock to discuss. Until then, keep trading, and don’t forget to enjoy the process. Have a great evening!