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FOXX outlook for July
FOXX had a pretty decent June, increasing from $38.59 to the current price of $47.87 despite only one real opener (SCOPR) which was mis-played after the adjust. My target of topping last year's delist price has been reached, but I am still a shade behind WEINX and a long way behind DISNX. Ayway, something to aim for.
Looking down the road, the pickings are still pretty slim with PRTWN as the only opener in July. It's as though Fox basically conceded the summer to Disney and Universal. I'm hoping for this to break out unexpectedly thanks to John Greene GFPs, but my (very limited) understanding is that the book does not have the fan appeal of TFIOS.
Fox's biggest opener of the season will probably come in August, with FANT4. The movie has had a gradual rise in price over the last two weeks, but I was making other bets on movies that had trailers come out. Now it's priced at a $47M opening, which seems a little too high for me. I certainly don't see the movie breaking out to open above $50M, but the sort of people who like to pick movies that will tank have been focussed on TERM5, and will probably be looking at ANTMN next. I'll stay out for now (especially with the money that will flow into JURA5 and out of other high-priced stocks) and wait for the next round of bad press about the movie.
In other news, Fox has a couple of IPOs on the calendar for next week - a Searchlight dramedy priced at $8, and a Saturday comic book IPO priced at $50. Both look to be predictable short-term plays for some quick gains.
Targets for July - pass $50M, overtake WEINX (at long last), make up some ground on DISNX (which has faint hope because NMIND and ANTMN)
[FOXX]
Tag(s): FOXX
FOXX outlook for July Jul 01, 10:13
Your "target" is never gonna happen ;) {nm} Jul 01, 22:59
But I wish you all the best {nm} Jul 01, 23:00
