Latest Scalp or get Scalped Play

August 19, 2022 10:29 a.m. EDT

(24/7 MARKET NEWS) – GigaCloud Technology (NASDAQ: MNMD) is yo-yoing and smart traders can make some money scalping the swings, but I seriously doubt that the smart money is parking their money here.

The Chinese based listing is trading at $27.84, up $12.15 (+77.44%), on over 9 million shares. It’s already hit a high of $41.98 and low of $24.81, and will have some more wild swings left, in which smart traders will take a quick 10, 20, 30 percent profit.

I’ve spent 5 minutes on due diligence on this one and it feels like the latest bag-holder setup. I have no idea when it’ll happen, but it’s very likely to be the latest scalp or be scalped play that you don’t want to be on the wrong end of and I wouldn’t want to hold this overnight, even if it means missing out on another gap up.

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