Signaling The Big Moves Even As I Write This
Airborne Wireless Network Inc. (ABWN) was a star for us yesterday, 23% so far. Today that action might get even more “interesting.”
Start with that big move from $0.48 to $0.59 we rode. This morning the ask is indicated as high as $0.69. The bid is already creeping up to meet it!
With that follow-up thrill on the radar, I’m thinking today is another day if you missed ABWN last time or simply want another taste.
For one thing there’s fresh NEWS on the wire. I’ll talk about that after we see the chart:
Sweet “early indicators” up there, right? Apparently the market couldn’t wait for the bell to start moving this one around!
I’m thinking this boils down to two main factors. First, there’s that headline. ABWN cutting the share count in half is a subtle thing.
The president of the company gave up 80 MILLION shares. That’s a 7-figure sacrifice for the good of the other shareholders!
Of course he wasn’t dumping that stock anyhow but it shows his conviction and also reduces the weight on revenue and profit when they come.
Then there’s the principle that success breeds success. ABWN had a GREAT day in a market where big moves have gotten kind of scarce.
Volume yesterday was BIGGER than every share traded so far since ABWN sprang to life as an aerospace networking play.
Practically a one-day IPO! And with that on the print, I think we’re still just in the earliest stages of liftoff.
ABWN deserves to stay on your screen today. And if you skipped it yesterday, now’s your shot at a catch-up before the weekend.
Happy, Happy, Happy Trading!
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