Mar. 1 at 7:57 PM
My newest trade idea:
$BZG23 $RIG . I sold all my
$SOFI &
$FROG to start a position in
$RIG at the open tomorrow. Why? because i believe the market is shifting from software tech stocks and moving into Oil, industrials and metals such as copper/lithium. The geopolitical tensions is a catalyst for this trade idea. An important factor for this trade is that oil
$BZG23 stays above
$70 so i will be watching that closely.
$RIG just recently bought its biggest competitor
$VAL and has now become the largest offshore drilling company in the world at a market cap of only 7 billion!
$RIG charges a day rate of up to 505k for one of its drillships and has contracts with some of the biggest energy companies in the world which agree on increasing day rates in the future, this positions
$RIG to have a steady increase in revenue (see my images attached for details).
$RIG has strong financials especially OCF.
Negative for
$RIG : back log number decrease (see images) need this number to increase.
