Varonis $VRNS DD
Varonis (VRNS) is in the cybersecurity business. They were founded by members of the infamous Unit 8200, a department within the Israeli defense forces. This unit is known for having the most skilled cybersecurity pioneers on the planet. Many of their former specialists have gone on to form multi billion dollar companies in the cybersecurity industry.
Varonis caters to securing private data for multi national fortune 500 corporations around the globe… and as such, it protects our data. Their customers include some of the largest financial institutions on the planet including Barclays and Deutsche. Universities including Boston University, George Washington University, The University of Surrey, and the University of Pennsylvania. They also protect Phillip Morris Tobacco, Sirius XM Radio, Simon Property Developers, Spotify, Exxon, and Dominion Energy.
They are currently trading at $53 a share and Analysts have their average price target for $68 a share. High estimates range from $88 to $117 a share. Low estimates have them at $58 a share.
VRNS just broke out of a descending triangle pattern and retested the downward sloping trendline and bounced off to the upside with fury today.
This is a very low volume and traded mainly by institutions. It also has a 6% shorted volume allowing for plenty of upside from covering shorts in the coming weeks. The ATH price was approx $75 a share back in February.
I am all in with 200 shares at a $51.38 cost basis and 25 calls for 12/17 at a $50c.
Low IV and great greeks prooves this is a low risk high reward position in a trusted company.
via r/wallstreetbets https://ift.tt/3qhG8Zq
June 11, 2021 at 03:28PM