Longtime trader David Green put orders in to buy shares of SGOCO Limited (NASDAQ: SGOC) in the midst of the stock’s rapid rise Monday morning.
“I like it at $16… I think we’ll see it bounce from there,” Green said.
Green put limit orders in for the stock at $15, $15.50, and $16.60. Since then, shares of the stock have risen even higher, currently trading around $24 a share.
Green’s comment was made Monday morning on Live Trading With David Green on BenzingaTV, a morning trading show in which he live trades the open on Benzinga. Last Friday, $SGOC closed just under $10 a share. This means the stock has gone up more than 100% in Monday's trading.
Stocks Discussed On The Show
Green was also bullish on Millendo Therapeutics (NASDAQ: TPST), Palantir Technologies Inc (NYSE: PLTR), SoFi Technologies (NASDAQ: SOFI) and GameStop Corporation (NYSE: GME).
Green mostly executes quick day trades, both on the long and short side. When a stock hits one of his pivot points he initiates a buy order with a tight stop loss.
Green looked at puts on AMC Entertainment Holdings, Inc (NYSE: AMC), saying that the stock is showing signs of weakness. Green did not end up placing an order or purchasing the puts, but he will continue to monitor the stock throughout the week.
Watch the full episode in the clip below, or click here to watch.
About The Show:
Benzinga’s Wall Street Global Trading Academy follows Wall Street Veteran David Green as he live trades at the market open breaks down what he is trading today. The show streams live Monday-Wednesday at 9:25 am ET on Benzinga's Youtube, Twitter, and Twitch.
About The Host
David Green is a 30-year veteran of Wall Street, including 13 years as a specialist on the floor of the New York Stock Exchange. Since retiring from the floor, Green spends his time helping retail traders. Green built a full-fledged trading course, Wallstreet Global Trading Academy, with fellow floor trader Peter Tuchman. To learn more about the course, click here or follow it on Facebook.
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