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FOXX outlook for June
FOXX had quite a respectable May, starting at $30 and change and finishing up at a shade under $39 (and ahead of my month-end target of $35). Much of this was down to the anticipation of, and disappointing performance of POLTR and the steady rise of SCOPR. KTSS2 and FANF2 IPOs helped too.
Looking ahead over the next month, SCOPR opens next weekend and I expect to stay long on the stock. MMCCA connects well with her audience and the movie (currently 96% on RT - MMAX4 levels of approval!) sounds like it hits the right marks. Movie theatres are even having early bird specials from 5pm this Friday so they can bring in more old people! Post-adjust this bodes well too - TAMMY, THEAT, IDTHF all delisted 10-20% above their adjust price and hopefully this will too. I'll also play the .OW closer to release date, but the .CA is enough for now.
20th Century Fox doesn't have another major movie opening until the end of July, but due to lack of options I've taken a chance on PRTWN anyway. It doesn't have any star power, but it comes from the same author as last year's TFIOS and is one of the cheapest openers out there. It should rise in price as people look to invest summer money. There'll be a trailer in a couple of days which should also give the price a boost. Also it has nearly 800k Facebook likes. That sounds like a lot, but I have no idea what it really means.
I'll also start thinking about getting back into FANT4 (1.2M Facebook likes, so obviously Facebook likes mean nothing). I've also taken a chance on HITM2 which opens at the end of August and is currently priced for a $6M opening, around SINC2 levels. I figure it can't open any lower, but that means it probably will.
Over at Fox Searchlight, MEADG opens the week after next. I don't have a feel for this movie, but have shorted it because it's depressing.
There are no upcoming IPOs for Fox, so I guess I'll keep playing news and the free money games.
The target for June - overtake WEINX, which has no openers until late July, sucker! And do not overtake DISNX, which is clearly cheating by having Marvel and Pixar options.
FOXX outlook for June May 31, 12:49
Invested! Thanks for the report! {nm} May 31, 13:47
