SONM Trade Plan

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Note: Assessment, Details, Summary and Trades headers are collapsible boxes.

  • Assessment
    Grade f

    There were two issues with this trade 1 I added when it was trying to crack the 1 dolla holla it went to 1.65 I should have taken at least half off for whatever reason I did not sell any ...I have reached out to the CEO multiple times and never got any response. I liked some of the moves new management is making but they have an SEC legal matter which I did not know about and that is on me for not finding it earlier, They are going to do another cap raise and have a going concern. There is a real possibility they don't survive they could also get financing or get bought by a competitor but I have no feel for the management as I can not get them on the phone so I decided to cut bait and move on. Poorly executed trade on every level. Not enough DD, Bought and did not take profits when they were there even when I knew the small caps were weak.

  • Details
    • Direction
      long 5000 shares
    • Reward/Risk
      2.5 / 1
    • Entry
    • Target 1
      $1.49 (81.71%)
    • Target 2
      $1.99 (142.68%)
    • Stop
      $0.55 (-32.93%)
  • Trades (3)
    • 05/12/21
      sell 1.5K shares at $0.47
    • 03/12/21
      buy 1K shares at $0.98
    • 11/11/20
      buy 500 shares at $0.50
  • Summary

    I highlighted this in this mornings Pre market Prep they reported earnings and they missed but I am looking for a big turnaround in the first and second qtr 2021 They may be forced to do a reverse split if the SP can not get back above a buck. They did a cap raise where insiders participated @ .75 per share raising 31 million dollars so they are good on cash they have several new products coming to market early next year with higher margins and entirely new product categories. This is a longer-term hold play and if they do a reverse split I will see how the stock reacts and consider an add if it pulls below its recent low around .39 cents on what may be a a capitulation move I may add. They just reported earnings 3 10 2021 they have nearly completed addressing the cost structure of the company now they are focused on the growth with new products already hitting the market and more to come in the first half of their 2021 fiscal year adding to the sales team they 22 million in cash 6 mil in burn no need to do a raise any time soon This is a long term hold play. If the stock price gets back to .50 or less I would aggressively add I adjusted all the price targets and my ideal fully-sized position