Not Exactly A $12 Billion Stock…


To end the week, let’s examine the top twenty stocks Merrill Financial Advisors have been looking at into Friday’s trading session. We stay on top of data of this nature – before it hits CNBC.

We caught it for traders just like you…

Ticker Code Ticker Name Ticker Industry Price Change Average Volume (50)*
WTRH Waitr Holdings Inc Conglomerates 52.87% 9,085,249
TRIN Trinity Exploration & Production PLC Telecom Services 18.94% 1,276,055
AAPL Apple Inc. Consumer Electronics 17.85% 39,071,047
AYTU Aytu Bioscience Inc Biotechnology 15.73% 18,605,420
NAK Northern Dynasty Minerals Ltd Other Industrial Metals & Mining 50.00% 3,670,537
FRAN Francesca’s Holdings Corp Apparel Retail 10.98% 520,128
NIO Nio Inc – ADR Auto Manufacturers 19.42% 31,561,022
CHK Chesapeake Energy Corporation Oil & Gas E&P -296.56% 2,567,290
RLMD Relmada Therapeutics Inc Drug Manufacturers – Specialty & Generic 18.24% 87,610
TSLA Tesla Inc Auto Manufacturers 34.77% 18,019,858
GILD Gilead Sciences, Inc. Drug Manufacturers – General 3.20% 23,740,329
VTIQ VECTOIQ ACQUISI/SH Conglomerates 58.74% 3,559,982
BA Boeing Co Aerospace & Defense -21.73% 35,592,940
NBEV New Age Beverages Corp Beverages – Non-Alcoholic -7.75% 2,386,316
NEPT Neptune Wellness Solutions Inc Drug Manufacturers – Specialty & Generic 54.30% 1,682,949
CYDY CytoDyn Inc Pharmaceutical preparations 11.00% 9,149,421
MVIS Microvision, Inc. Scientific & Technical Instruments 81.11% 41,519,836
ROKU Roku Inc Pay TV 24.97% 13,374,031
DHT DHT Holdings Inc Oil & Gas Midstream -22.13% 7,094,383
AMD Advanced Micro Devices, Inc. Semiconductors 16.57% 74,756,766

Myriad investors and traders alike have been buying shares of VectoIQ Acquisition Corp (NYSE: VTIQ) under the impression that the company’s market cap is just $900 Million, as often indicated on stock market research websites.

After doing some digging on my end, it comes as no surprise that VTIQ is high on the radar of Merrill Financial Advisors…

There could be some serious false reporting going on!

VectoIQ Acquisition Corp has:

  • Just $482k in annual revenue
  • 300 employees
  • Recently received a multi-million dollar small business loan (and refused to pay it back, claiming it would need it to make payroll).

Adding those bullets up, that doesn’t sound like a company worth a $12B valuation and a $900M market cap…

Not exactly a Tesla ($700M+ in annual revenue), wouldn’t you agree?

I believe that as a result of some serious question marks in the true valuation and market cap of VTIQ, hedge funds and institutions may be selling out of their positions in VTIQ in the very near future.

In fact, you may notice on the chart below the decrease in price-per-share by over 20% in the last two trading days alone… I believe institutions are starting to take note and may be planning on making short-term bets against VTIQ in the near future.

I plan on making momentum-based trades on VTIQ to catch a piece of this price action as well. As a stock market veteran, something is fishy about this company’s reporting, and I expect volatile price action in the stock to come as a result.

A simple fibonacci retracement of VTIQ’s recent price action would indicate a pivotal spot for the stock itself at $23.67/share.

Should price trend above that level, I’ll treat it as a support level and I’ll be interested in making a bullish day-trade.

Below that level, $23.67/share becomes resistance and I’ll be interested in making a bearish trade.

Let me know how YOU do today!

Yours for TrackStar trading,

Davis Martin
America’s #1 Premarket and Day Trader

Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.