Two leading stocks in the financial service sector broke into higher grounds today: (IAAC) and (GROW). (IAAC) is the business of offers various financial services focused on international securities and commodities markets. It has made a fresh 52-week high today with massive volume. (GROW) is in the business of providing investment advisory services to institutions and individuals. It will announce earning on this Friday.
(GROW) has certain risk in it because of the upcoming earning announcement. I would be hesitate to take up any position before earning. Several prime examples would be (DAKT) and (MED). They all plummeted after earning. They were leading stocks before earning. On the other hand, (IAAC) already announced great earnings a while back.
2 comments:
Why is IAAC down $8 points from its high and GROW is still close to its high? Is IAAC a buy here or should we short GROW?
I don't know what the deal for IAAC. But I would not short (GROW), it is very strong in a rallying market. I would wait for IAAC to strengthen first before buying.
Post a Comment