Market Overview

Trading Pro Discusses The 'Honey Badger' Stock He Just Bought

Trading Pro Discusses The 'Honey Badger' Stock He Just Bought

John Carter was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

John Carter of was guest on Friday's edition of #PreMarket Prep and discussed why he bought shares of Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP), a biopharmaceutical company with a focus on research and development of drugs to treat gastrointestinal, ophthalmic, and oncology-based inflammatory disorders.

Carter noted that shares of Sucampo hit fresh 52-week highs on Thursday (note: shares hit new 52-week highs again on Friday before trading off). He suggested that the stock "does not care what the market is doing," or in other words is a "honey badger stock."

Carter has been following only five stocks the past week, including, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), Google Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), Netflix, Inc. (NASDAQ: NFLX) and Tesla Motors Inc (NASDAQ: TSLA).

The investment expanded on Tesla as the stock performed well during Thursday's session. The issue still has a large amount of shares that are short, implying the stock can have an "exaggerated" move.

Finally, Carter advised that in this volatile market, traders should keep their focus on a few key items. He stated he only follows the five stocks mentioned, the overall indices, and any "honey badger" stocks that may appear.

Image credit: Peter Trimming, Flickr

Latest Ratings for SCMP

Jan 2018NomuraDowngradesBuyNeutral
Jan 2018Leerink SwannDowngradesOutperformMarket Perform
Dec 2017Maxim GroupDowngradesBuyHold

View More Analyst Ratings for SCMP
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