• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Stocks

Shark Bites: I'm Getting Charged Up About Beam Global

Here's my trading strategy for this EV charging stock.
By JAMES "REV SHARK" DEPORRE
Nov 03, 2020 | 01:45 PM EST
Stocks quotes in this article: BEEM

The trading action is presenting a dilemma for many market players who are trying to stay in sync with the price action. The very broad strength seems to indicate that there will be a clear and positive outcome to the election but there isn't nearly enough factual information to confirm that theory. The potential that the market has it wrong and that some troubles await is very high but who are you going to believe, the DJIA or your gut?

Typically, I'm inclined to stay with strong momentum like this, however, making new buys in front of the looming news doesn't strike me as a good way to control risk. While it is possible the market keeps running as it deals with election results, the potential for less clarity is not insignificant.

We are already seeing the indices cool off as the day progresses.

My game plan at this point is to simply manage positions and wait for new setups to develop. While I have no interest in chasing buys right now, I suspect we will see some good entries in post-election volatility.

One name on my radar today is Beam Global (BEEM) . Beam Global produces technology for electric vehicle (EV) charging, outdoor media, and energy security. Its products are based on its patented EV ARC and Solar Tree lines and include BeamTrak patented solar tracking and ARC Technology energy storage, along with EV charging, outdoor media, and disaster preparedness packages.

On October 21 the company announced a collaboration with the City of San Diego to deploy solar-powered EV charging infrastructure across the city. It was a first-of-its-kind deal and is a model for future partnerships.

BEEM started to push higher on increased volume in July after being added to the FTSE Russell Microcap Index and saw a big volume spike in late August after BTIG initiated coverage with a "Buy" rating and a $25 target.

The shares spent August and September digesting the July move, but caught a momentum wave in early October, pushing to fresh highs on a two-day volume spike. Since then, BEEM has been flagging off highs and I am looking for a trend continuation. As such, we'd look for an entry between $15.80-16.80, with an initial stop around the 50-day moving average or so.

Please note that due to factors including low market capitalization and/or insufficient public float, we consider BEEM to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, Rev Shark was long BEEM.

TAGS: Investing | Markets | Politics | Small Cap | Stocks | Technical Analysis | Trading | U.S. Equity

More from Stocks

Bearish Bets: 2 Nasdaq Stocks You Should Consider Shorting This Week

Bob Lang
Apr 18, 2021 10:30 AM EDT

These names are displaying both quantitative and technical deterioration.

Navigating the Cycles of the Market

James "Rev Shark" DePorre
Apr 17, 2021 10:00 AM EDT

How Recency Bias and the Pareto Principle impact your trading decisions.

Market Indices Continue to Hide Crazy Rotational Action

James "Rev Shark" DePorre
Apr 16, 2021 4:41 PM EDT

Fundamentals and valuations are secondary to shifting money into certain sectors.

Is the Market Wrong on Bank of America? Here's What the Charts Say

Bruce Kamich
Apr 16, 2021 2:21 PM EDT

Let's check in again on BAC after its latest earnings.

Liquid Media Group Is a Hidden Gem

Timothy Collins
Apr 16, 2021 1:33 PM EDT

With the options open, I believe the near-term puts offer an attractive play.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 08:05 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    How recency bias and the Pareto Principle impact y...
  • 02:42 PM EDT PAUL PRICE

    Wednesday on Real Money Pro

    Make this stock a 'part' of your portfolio.
  • 04:44 PM EDT PAUL PRICE

    Pretty Incredible + Hard to Believe

  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login