Long Position on GFS @ $59.00 on 12/15/2021 (Fundamentals)

GLOBALFOUNDRIES Inc. (GFS) operates as a semiconductor foundry worldwide.

It manufactures integrated circuits, which enable various electronic devices that are pervasive.

The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems. The company was founded in 2009 and is based in Malta, New York.

Globalfoundries Inc. reported 3rd Quarter September 2021 earnings of $0.01 per share on revenue of $1.7 billion. The consensus estimate was a loss of $0.05 per share on revenue of $1.7 billion.

This stock should see an increase in share prices following it's deal with Ford to develop semiconductor chips, exclusively for Ford vehicles. Additionally, the semiconductor company plans to develop all these chips domestically, in the US.

Entry Point: $59.00

Stop Loss: $56.25

Trading Range: $44.48 - $73.25

Target Pirce: $64.00

Position closed on 12/28/2021 at price of $64.65 with a 9.58% gain in 13 days.

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