PACK - stevehemingway/trading GitHub Wiki
tags: [potential/long] ...
11 hr ago
On Wednesday, we talked about buying risk, and highlighted some intriguing plays that qualified. Packaging provider Ranpak Holdings (PACK) didn’t make the cut then — but it does now.
A key reason why we kept PACK off the list was that earnings were on the way, and from a distance looked dicey. That judgment proved correct: Ranpak tanked its Q2 report on Thursday morning, and PACK plunged 23% in response. The decline completed an absolutely epic round-trip:
source: finviz.com
The return to 2019 lows on its own doesn’t make the stock a buying opportunity. Nor is the chart that outlandish in the context of pandemic winners.