Stock to Consider: Daktronics (DAKT)
Posted: Tue Dec 20, 2022 1:20 pmDisclaimer: Don't gamble with money you cannot afford to lose. The greatest tips can fail due to the unexpected happening. If you're interested in the potential to make money in the stock market, please teach yourself about such things as buying only a small portion of what you can afford and doubling down when the stock goes lower but nothing is really wrong with the company. Also, please learn about selling covered calls, a fairly simple options strategy. There is plenty of free stuff on Youtube and elsewhere to help anyone who takes the time!
Now onto my stock pick...
A speculative buy you might consider is Daktronics (DAKT), which makes electronic scoreboards and signs for highways. They had earnings recently and the stock went down to $1.46 on 12/7. They are still profitable, but just barely- earning only 1 cent per share in the last year. They added a person to their Board of Directors as well.
Another item which may have contributed to the poor performance is year-end tax loss selling. This is the phenomenon where accountants and tax advisors tell clients to sell losing stocks to reduce their tax burden for the year. It happens EVERY YEAR in December. DAKT in my opinion likely has had a number of sellers for tax reasons.
DAKT is now (as of intra-day action on Tuesday) back over $3 a share. This is the point where investors can use margin to borrow and buy a stock.
I bought the stock yesterday. I've known about the company for 10-15 years or more and have traded it a number of times in the past.
I like that the stock has gone up nicely in 6 of the last 7 days with good volume while the market has acted poorly. I thing this could be played as a short-term trade or (potentially) as a longer-term hold. I am curious to hear any feedback or comments you may have. Good luck to all.
Now onto my stock pick...
A speculative buy you might consider is Daktronics (DAKT), which makes electronic scoreboards and signs for highways. They had earnings recently and the stock went down to $1.46 on 12/7. They are still profitable, but just barely- earning only 1 cent per share in the last year. They added a person to their Board of Directors as well.
Another item which may have contributed to the poor performance is year-end tax loss selling. This is the phenomenon where accountants and tax advisors tell clients to sell losing stocks to reduce their tax burden for the year. It happens EVERY YEAR in December. DAKT in my opinion likely has had a number of sellers for tax reasons.
DAKT is now (as of intra-day action on Tuesday) back over $3 a share. This is the point where investors can use margin to borrow and buy a stock.
I bought the stock yesterday. I've known about the company for 10-15 years or more and have traded it a number of times in the past.
I like that the stock has gone up nicely in 6 of the last 7 days with good volume while the market has acted poorly. I thing this could be played as a short-term trade or (potentially) as a longer-term hold. I am curious to hear any feedback or comments you may have. Good luck to all.