Long Position on NARI @ $57.50 on 7/30/2020 (Momentum)

Inari Medical, Inc. (NARI), a commercial-stage medical device company, focuses on developing products to treat and transform the lives of patients suffering from venous diseases in the United States.

It produces ClotTriever for treatment of deep vein thrombosis; and FlowTriever, a thrombectomy system for treatment of pulmonary embolism.

The company was formerly known as Inceptus Newco1 Inc. and changed its name to Inari Medical, Inc. in September 2013.

Management currently owns 50% of shares. The company had a sales growth of 288% last quarter and earnings per share grew 550%.

Yesterday, it was announced that the company will be participating in the upcoming Canaccord Genuity 40th Annual Virtual Growth Conference.

Please note, this stock reports earnings on August 11th. Shares of this recent IPO are on the verge of breaking out of its "bullish cup and handle", suggesting that shares will move higher.

Entry point: $57.50

52-week trade range: $39.55 - $61.76

Stop/Loss: $54.50

Target Price: $63.25

Updates

8/4/2020 2:22:42 PM

Taking profits at $63.45.

Position closed on 8/4/2020 at price of $63.45 with a 10.35% gain in 5 days.

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