Long Position on GLBE @ $61.75 on 7/14/2021 (Fundamentals)

Global-E Online Ltd. (GLBE), together with its subsidiaries, provides a software platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, and internationally.

Its platform enables international shoppers to buy online; and merchants to sell from and to anywhere in the world.

The company was incorporated in 2013 and is headquartered in Petah Tikva, Israel.

Global-E Online reported a Quarter March 2021 loss of $0.08 per share on revenue of $46.2 million.

The company debuted on May 12, pricing at $25 per share. Ahead of the IPO, Shopify acquired 7.75 million shares in Global-E Online, more than a 5% stake, and created a service and partnership agreement that made Global-E the exclusive provider of cross-border services for Shopify's customers. The stake dropped to 5.4% after the stock's debut.

As this stock heads towards an optimal buy-point, share prices should head higher as it moves along its "bullish cup and handle" formation.

Entry Point: $61.75

Stop Loss: $58.75

Trading Range: $24.22 - $65.54

Target Price: $68.00

Updates

7/30/2021 10:18:06 AM

GLBE closed at $71.55

Position closed on 7/30/2021 at price of $71.50 with a 15.79% gain in 16 days.

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