Profit-Taking Is Kicking In: Here Are Some Names on My Shopping List Study those charts and be ready to act as things develop.
Feb 05, 2021 | 11:19 AM EST
Opening strength Friday morning has been met with steady selling in many of the small-cap stocks that have been leading recently. Breadth is still excellent at better than 2 to 1 positive, and over 750 stocks hit new 12-month highs, but it looks like traders are in the mood to lock in some gains as they finish up an excellent week for stock-picking.
The stocks that led Thursday are lagging badly Friday, but it doesn t look like there is any rush for the exits. It is just some profit-taking and cutting of exposure. I expect many of these names to set up quite well again after a bit of rest.
Shares of
Virgin Galactic Holdings (NYSE:SPCE), which exploded higher on the promise of a test flight Monday, are dropping back to Earth today down 4.9% as of 11:45 a.m. EST.
The reason: Virgin Galactic is rapidly facing increased competition in the space sector.
Image source: Getty Images.
So what
Celebrated at its 2019 IPO as the world s first and only publicly traded commercial human spaceflight company, Virgin Galactic technically still holds that title, but the distinctions are starting to pile up. The past few months have given us the promise that the first space tug company,
Stable Road Acquisition s (NASDAQ:SRAC) Momentus, will go public. That announcement was followed in short order by the announcement of the first satellite-driven communications network for ordinary mobile phones:
Climate Change Crisis Real Impact I Acquisition Corporation (NYSE: CLII)
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of
Climate Change Crisis Real Impact I Acquisition Corporation
(NYSE: CLII) in connection with the proposed merger of the company with EVgo Services LLC ( EVgo ). Under the terms of the merger agreement, CLII will acquire EVgo through a reverse merger that will result in EVgo becoming a publicly traded company. If you own CLII shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://weisslawllp.com/cris/