Exactly one month ago, we talked about a hot new stock that’s been gathering more and more attention.
That stock was FROG (JFrog Ltd.).
FROG was an IPO back in 2020, and that’s in the sweet spot for thinking about buying a tadpole (a newer stock).
And as we’ve mentioned before, IPOs have a tendency to make a jump within 2-3 years. FROG fits this category.
When we had a discussion a month ago, FROG was near its $27.95 buy point.
Now it’s just hopped through that level.
Again, this stock is in a very hot sector and the glowing articles in IBD all talk about how FROG is growing earnings by as much as 400%.
New stocks with big growth can do some crazy things.
Here’s the chart as of today:
An entry at its current level could have a profit target at $46.
Or a trader could ride the wave upward as long as it stays above the long-term moving average.
We’ll keep an eye on it.
— Scott Welsh