There was a lot of activity in the market today after being closed yesterday for the President’s Day holiday! I went looking for some potential profits on my lunch break.
Rite-Aid (RAD) had an announcement that it would be bought out this year. The pre-market trading spiked at $2.80 per share but when it opened it was jumping between $2.15 and $2.20. I am hoping to sell it above $2.65 but I did not have the opportunity today. We will see where it goes in the future.
Walmart (WMT) released it’s earnings report today and it was slightly lower than expected. The online sales only grew by 23%, which sounds like a lot but investors wanted to see 50% or better to show it was making gains on Amazon (AMZN). With this news, the price fell nearly 10% to $95 per share. It had not traded this low since last November. It looks like a buying opportunity to me!
I made the following trades within my Robinhood brokerage account:
I sold 2 shares of FB for $177.41 each, total cash from sales was $354.82.
This was a loss of $1.86
I bought 4 shares of WMT for $95.195, total cost was $380.78.
I also set a limit sale for $100. This means the share will automatically sell when the price per share reaches or exceeds this price.