Sweetgreen Earnings Gap Trade – May 10, 2024:
- Gap Up: 27% after earnings on May 9, 2024
- Entry: 1-minute ORH
- Day 1 Outcome: Did not hit stop loss but closed poorly on the bottom half
- Issue: Stock showed no follow-through and failed to move higher in the following days
- Result: Gradual fade and got stopped out with a 4.7% loss after a few days.
While the trade avoided an early stop-out, the lack of momentum and subsequent fade eventually lead to a 4.7% loss.
