Please note that this position was closed on the 14th of March with a stop loss, unfortunately, we had a technical glitch that stopped this particular post from going out. However, please be reminded you should have stop-loss orders on your platforms to trigger the sell for when it becomes valid.
The stock gapped down on the open on the back of an announcement that ABB not only lost its Origin Energies broadband contract, but also that Superloop, (the company ABB recently made an offer for) pilfered the Origin contract. The contract win for Superloop will add an extra 19 million in annual earnings whilst Origin also became an investor of Superloop.
Not surprising, the share price was hammered on the open and gapped through our $4.20 stop level, opening at a price of $3.40 (our exit price).
Closed position result
Number of Shares sold: 670
Initial buy price: $3.90
Take profits on 330 unit at $4.50
Sold remaining units $3.40
Position closed for a loss of $137.00
