One e-commerce stock has rallied 2,050% since March, and trader sees more room to run $XRT (via TradingNation)
have rallied triple digits since the market trough four months ago. Overstock, the biggest mover, has skyrocketed 2,058% since its own bottom. These stocks have been hot commodities as the stay-at-home trade benefited from pandemic-related lockdowns and quarantines.
"The hype is exactly what makes them great, especially for short-term momentum traders like myself," Shay told CNBC's "" on Monday. "My favorite part about them is that they have high short interest, and they're right up near the highs where those short sellers are going to have to cover." "For moves like this, when you have tickers that have large percentage gains, those are the best tickers to trade in the options market. There's a lot of premium that you can sell whenever they revert back to the mean," said Shay., founder of Newton Advisors, isn't betting against any of these soaring e-commerce companies, given their moves. There is one name, though, he says could be vulnerable to a pullback.
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