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PLTR & JMIA: Two Recent IPOs with Explosive Potential

Palantir Technologies and Jumia Technologies are two recent IPOs that I believe have the potential to go on explosive runs. Palantir ($PLTR) is a software company that IPOed in September of 2020 and rapidly launched to over $30 a share. It then pulled back to a low of $22.50 and has yet to close below its' 50-day moving average. It has been on my watchlist for quite some time and I took a position today as it cleared resistance around $28.

Jumia Technologies ($JMIA) is considered the " of Africa." The chart is just incredible. It first appeared on my radar in November as it cleared $20 and ran up towards $50. I took a position today as it broke out on volume. There is an old Jesse Livermore rule that an excellent time to buy a recent IPO is when it clears its' all-time high after a reaction. JMIA did that today and it did so on impressive volume. In addition, it has built a very large cup on the weekly chart. A big base like this often offers large potential for a major move higher.

Jumia and Palantir are both volatile growth stocks and thus position sizing with a proper stop loss in place is a must when trading newer issues like this. No matter how much I like a stock, I know anything can happen and must always protect my downside.

To learn more about trading, visit my course page.

Full Disclosure: JMIA and PLTR are stocks I currently own.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.

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