Volume Hunter: 2010 IPOs (TSLA, MMYT, CELM, BORN, KONE, AVEO, JKS, HSFT)
Traders are consistently on the hunt for volatility, and recent IPOs are often a great place to find it as Wall Street digests future prospects and attempts to value newly public equities. In 2010, there have been a number of closely watched IPOs ranging from electric carmaker Tesla Motors (TSLA) to Indian travel site MakeMyTrip (MMYT), and while select stocks have more than doubled over the last three months, others have slipped by more than -20% for the period.
On a given day, finding the most tradable players is as easy as checking out the 2010 IPOs Index, which is currently made up of 94 components. As of this writing, the Index is outperforming the S&P 500 by 5% over the last month, and sorting the stocks by tickerspy’s proprietary “% of Daily” relative volume metric helps traders hone in on volume spikes on an intraday basis.
China Electric Motor (CELM) is today’s top performing 2010 IPO, up by 17% on no news. The micro-motor firm’s products have applications ranging from household appliances to consumer electronics. After rocketing higher in the first three months on the Nasdaq, shares have slipped by -46% from their all-time high. Despite an apparent lack of notable developments, the stock is moving higher on more than ten times its average daily volume through the time of this writing.
Elsewhere in the 2010 IPO space, corn-based alcohol firm China New Borun (BORN) and wireless solutions company Kingtone Wirelessinfo (KONE) are also moving higher by more than 10% on notable volume spikes. China New Borun is the top performing 2010 IPO over the last three months, gaining a whopping 215% for the period. Cowen & Co. made a prescient Outperform call on the stock on August 3.
Other three-month winners include AVEO Pharmaceuticals (AVEO), JinkoSolar Holding (JKS), and HiSoft Technology (HSFT), all of which have more than doubled for the period after debuting earlier this year.
Investors can track the 2010 IPOs Index for performance trends and a suite of other metrics at tickerspy.com.
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