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- Munny Tree Trade Alert: 6/11/24
Munny Tree Trade Alert: 6/11/24
New Buy Position
New Buy Alert
We are adding 1 new position to the portfolio today:
Ticker: INSP
Name: Inspire Medical Systems
Entry Price Range: under $170.00 (our entry price was $166.10)
Portfolio Allocation: 7% of our portfolio is allocated to this position
As a reminder, we allocate our positions evenly. We currently have 14 positions so INSP is 7%. If we add more positions, this will become diluted to a smaller portion of the portfolio
Why we like it:
Momentum Swinging up: It fell about 40$ since May after their earnings release, which they actually beat on earnings but forecasts were below expectations. The past 3 weeks it’s been treading water and just broke out into a positive momentum
Analysts Love It: It is maintained as a ‘Buy’ or ‘Strong Buy’ from virtually every analyst tracking the stock. It has a 1 year price target that is 60% above its current price. We see 20% potential in the short term