The heavily-shorted recent IPO GoPro has been basing quite well since it went public.
I went long the stock yesterday inside 12631, playing for a squeeze breakout higher.
Now, I typically wait longer after ban IPO before swinging it, perhaps four or six months. But in this case I thought the risk was worth it as the stock had been consolidating impressively and seems to have its fair share of skeptics.
In the face of a late-August melt higher, if the bulls don’t fumble I would expect this one to perform well.
My stop-loss is under $40 but I am looking to raise it up.
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