HE just finished a $558 million equity offering (Their market cap was around 1 billion), selling 54.05 million shares at $9.25 per share. They will use this to fund 1 of 4 payments for the Maui wildfires. The stock held pretty strong, but we also had a decently strong market last week. Considering the dilution and likely further share offerings it has a decent chance of maintaining it's low PE and with the new shares on board that would price it closer to 7.The price action from this week gives us a really nice risk
HE reward setup, and we can either just stop over the wicks of the last 4 daily candles or if we want to swing for a longer move stop at the 20 ma.Note
Trade moving as expected, moved stop loss down to 9.90, but letting it ride.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.