The ARM Holdings (NASDAQ:ARMH) call begs the question – Did it work?
Well, sort of. If you look at the squeeze that happened after 9:30 AM ET it clearly didn’t. Most likely one would have taken a $0.50 loss on the position.
Yet, if you look at what happened in the pre-market, depending on one’s entry/exit a $0.50- 0.80 profit was to be had.
I think what one has to consider is that ARMH is an ADR (American Depository Share), which means it trades primarily elsewhere. ADR’s tend to make their moves in the pre-market. There are exceptions of course, one being Nokia (NYSE:NOK). NOK tends to extend its pre-market moves in regular hours.
Just wanted to get this off my chest.
PS: Sorry for the lack of posts lately. I don’t want to post stuff for the sake of posting. Posts generate traffic but as many of you know, I don’t ride that way. No popularity contests here.