Looking through my favorite growth stocks… the companies that are already profitable with the strongest fundamentals pulled back to their 50d moving averages $UPST $FUTU $CELH
…while the companies that are unprofitable with a longer term investment thesis have pulled back to their 200d moving averages
Overall, charts are starting to look more constructive but earnings season will be important to determine where we go from here.
$NIO is another one that has pulled back to the 200d
$CLPT has only pulled back to the 50d which is bucking the trend from other high-growth small caps that won't be profitable for another couple years.
If I wasn't already loaded up with $CLPT this might be a nice place to start adding with a stop loss in case it breaks below.
6 weeks ago $UPST reported Q4 numbers and shocked investors when they raised 2021 revenue guidance to $500+ million (probably conservative) due to an acceleration in their business and more bank partners. ir.upstart.com/static-files/4…
$DMTK (my second biggest position) is up 16% pre-market on reports that Cigna has offered positive support for $DMTK's PLA/PLA+ genomics patches for early melanoma detection
Cigna is one of the largest insurance companies in the world with 180+ million customers in 30 countries
This news about CIGNA was most likely made possible with two recent events which I already highlighted:
Another thing to note is that UnitedHealth Group also uses OptumInsight for their data/studies so it's very possible we see $UNH provide support for $DMTK's PLA/PLA+ patches as well as their next two products: Luminate and Carcinome
Yesterday I spoke for 55 minutes on @TwitterSpaces hosted by @WOLF_Financial about the markets, my favorite stocks, short selling and a bunch of other stuff.
I have no idea why $DMTK is down 14% today -- makes no sense. There is no news.
Volume is not that heavy and short interest is up to 25% so the bears/shorts are clearly running the show.
$DMTK is still one of my highest conviction stocks for the next 3-5 years. Adoption with dermatologists will be slow, just like it is for most new technologies but eventually $DMTK will be the standard of care. Dermatologists will use the patch before they use the scalpel.
I still believe $DMTK has enormous upside over the next 5+ years.
Don't forget that PLA is just their first product, they have more genomics smart patches coming to market later this year and next year that should be 10x bigger than the PLA product for melanoma detection.