In the last week, three stocks exhibited wide price swings whose momentum might reward traders.
DocuSign (DOCU) formed an uptrend in June in the low $40s. It broke out from around $60 to $68 after posting second-quarter results. Revenue grew by 9.4% Y/Y to $875.7 million. Its outperformance in eSign and IAM (intelligent agreement management) will continue this quarter.
DocuSign is forecasting revenue growth of 9% in the current quarter.
Strategy (MSTR) flatlined at $100 throughout July. Shares broke out to above $140 when Bitcoin (BTC-USD) prices rose from $63,000 to touch the $80,000 level. Although Strategy sold BTC near the lows to cover its preferred shares, the MSTR stock surge gives it more options.
Expect Strategy to sell shares to raise its cash levels. That enables it to sell shares.
Fintech giant PayPal (PYPL) lost its trading momentum when Advent and Stripe halted plans to buy out the firm. Bloomberg News reported that the consortium would not bid for PayPal at a price of over $50 billion. Investors might consider trading Block (XYZ), SoFi (SOFI), and Toast (TOST) alongside PYPL stock.
Persistent rumors that Stripe and Advent would return to the negotiation table lifted PayPal shares last week. That might set a floor on the stock price between $45 and $55.
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