Swing Trade Idea – March 25, 2022
Today’s 5 Stock Ideas:
- Greenlane Holdings (GNLN) – A play on momentum in the cannabis space. A Thursday afternoon report “Federal Marijuana Legalization Bill Officially Scheduled For House Floor Vote Next Week” moved the entire cannabis space higher. Greenlane is a global distributor of cannabis-related products to cannabis dispensaries as well as direct to consumers.
- Chewy (CHWY) – A play on famed entrepreneur and activist investor Ryan Cohen. Cohen founded Chewy, has taken over the helm as Chair at GameStop (GME) and is now a major investor in Bed Bath & Beyond (BBBY). Chewy will report quarterly results on Tuesday of next week.
- XPeng (XPEV) – A play on the Chinese electric vehicle space. Shares moved Friday morning in sympathy with competitor NIO (NIO), which had earnings Thursday evening.
- Micron (MU) – A play on upcoming earnings. The computer memory manufacturing company will report quarterly results next week on Tuesday. Results are expected after the close of trade.
- Color Star Technology (CSCW) – A play on the metaverse. The company announced Friday morning the formation of a new subsidiary in Singapore to focus on the company’s digital commerce and products in the metaverse.