Shared by:
PeterDragon
Roadzen, Inc. operates as an insurance technology company. It offers auto insurance services through artificial intelligence technology.
Technology/Software - Application/USA/NASD
VIX 12 All day decline
SPY 545 Closed even
QQQ 481 Mid-day recover
MARKET CAP 110.87M
OPTIONABLE N
SHORTABLE N
P/E 29.94
INSIDER OWN 75.03%
INST OWN 7.16%
SHS OUTSTAND 68.44M
SHS FLOAT 17.09M
SHORT FLOAT 0.11%
SHORT INTEREST 0.02M
52W RNG 1.55-17.00
RVOL 2.7
AVOL 162.42K
BETA .62
ATR .43
SUPPORT Hit all time low during the day at 1.55
RESISTANCE 3, 3.75, 5
INFLECTION
BIAS Long
News - FY24 EPS $(2.26) Vs $(0.86) YoY; Revenue $46.7M Vs $13.56M YoY
-- Full year revenue of $46.7 million, up from $13.5 million in the prior year, a 245% increase.
-- Net loss of $99.7 million is impacted by non-cash, non-recurring and extraordinary items, resulting in an Adjusted EBITDA1 loss of $10.4 million, a 5.1% increase over last year.
-- As of market close on June 28, 2024 Roadzen was included in the Russell 2000(R), Russell 3000(R), and Russell Microcap(R) indexes bringing new institutional shareholders.
Strategy
Seen hit scanner after the close. Increased volume and % percent gain. 10 minutes after news hit seemed extended and losing steam. Wait for a pullback or high breakout to get an entry to risk off of. Overall stock looked beaten down with no substantial resistance so assuming half and whole dollars.
Trade
Entered 1c above the high looking for a breakout trade. Resisted immediately and sold at a 4c loss.
Trade Review
Was a good trade and met my rules of entry.
Exited well, but some slippage due to low volume.
Failed to see much energy once I pulled up the charts. Will continue to watch for a second day play expecting increased volume due retail investors playing the earnings report and potentially institutional investors entering due to shifting into indirect AI plays.
Execution detail:
Comments
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Nice detail for the after-hours; thanks for sharing. I'm a beginner 1mo. Starting with Pre-Market. Scan and strategy planning 5:00am-6:00am. Trade window 6:00am - 10:30am. Buy $2.50 @6:36am starter position, scaled-in to target position just below vWAP band; scale-out sell rising breakout and final close of position $3.05 @9:56am.