Hey there, traders! It’s your friendly neighborhood stock enthusiast, Barrie Einarson, back again with another edition of “What Makes This Trade Great.” Today, though, I must admit I’m eagerly awaiting the opening of Reddit’s IPO. But hey, while we wait for that, let’s dive into some other exciting market movements, shall we?

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So, let’s talk about SPIR. No, not the spooky kind, but the stock market kind. Taking a gander at the daily chart, we witnessed quite the surge a couple of days back. But why the sudden downturn? Well, as it turns out, they decided to do a financing round at $14. Isn’t it funny how these things work? Pre-market, we were all clued into this financing news, and SPIR was holding steady above that $14 mark. But once the market gates swung wide open, it took a nosedive below that level.

But here’s where it gets interesting. Our trusty AI flagged this opportunity at $13 for a short. And would you look at that? Right around 10:30 AM, it hit the mark. Sure, there was a slight uptick afterward, leading some of us to ponder a potential recovery. But alas, it seems Spir has other plans as it continues its descent.

As we chat, SPIR is down a whopping 9.6% from the $13 short alert. Another win chalked up for our AI. But folks, I gotta keep my eyes peeled for that Reddit IPO. Can’t afford to miss out on that potential rollercoaster ride of excitement.

Until next time, happy trading!