Rotation Day out of Momentum/Recent Leaders and into Laggards
The month of July kicked off with another big morning for us at Marlin Capital.
My #2 Trade Idea for July (in my report just released yesterday), Planet Labs (PL), exploded for a +25% gain pre-market on news that the company was awarded a €240 million Satellite Services Deal.
We sold half our position pre-market at $7.54 (+23%) and another 25% shortly after the market open at $7.39 (+20%).
PL stock faded hard early (along with most momo names), and we stopped out on our final 1/4th portion. Overall, we gained +17% on this trade we just entered yesterday at 10:57 AM EST.
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