Our Stock of the Week is Everspin Technologies (MRAM). MRAM the world's leading developer and manufacturer of discrete and embedded Magnetoresistive Random Access Memory (MRAM). Everspin's MRAM solutions allow its customers in the industrial, automotive and transportation, and enterprise storage markets to design high performance, power efficient and reliable systems without the need for bulky batteries or capacitors. Everspin is the only provider of commercially available MRAM solutions and over the past eight years has shipped over 60 million MRAM units.
MRAM is at a turning point with its new technology being adopted by the industry. Recently Stifel commented that it was only a question of when the adoption takes place.
Currently the company is expect to turn profitable and earn $0.53 in 2018. Revenues grew 27% in the last quarter but are expected to ramp up quickly form here.
The chart looks very good as the stock is basing at a new closing high close to $19. There has been a strong volume pattern lately as accumulation has been taking place.
As always we would not chase the open on Monday but would look for a strong close over the $19 level on increased volume. We would keep a stop around the $16 level.
This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength, and will buy or sell at any time for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees and affiliates of Shark Investing, Inc. and/or principals, employees and affiliates of Shark Asset Management, Inc. ("SAMI"), directly or indirectly, controlled investment and/or trading accounts containing positions in MRAM. To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.
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