Trade 8 of 73: IN with $1,949 and OUT with $2,144

Trade 8 of 73 happened on August 6, 2018 and lasted all of seven minutes.

The company that I traded was HMNY, the owner of the MoviePass, who’ve been a lot in the news lately. MoviePass is like Netflix, but for movie theaters. You pay ten bucks a month and watch all movies you want.

If it sounds too good to be true, that’s because it is. While the service is legitimate and millions of people have been taking advantage of it, the company is losing a lot of money, and in the recent weeks their stock price has imploded.

On the morning of August 6, however, the stock saw an aggressive spike and I saw my opportunity.

This trade is cause for a mini-celebration because my initial thousand dollars has now more than doubled and turned into $2,144.

Here are the details for Trade 8.

Stock: HMNY
IN date: 8/6/18
IN with: $1,949
IN price: $.1073
Shares: 18,000
OUT date: 8/6/18
OUT price: $0.1202
OUT with: $2,144

See you at Trade 9!

Tim H.