Long Position on JAKK @ $24.00 on 8/4/2022 (Momentum)

JAKKS Pacific, Inc. (JAKK) develops, produces, markets, sells, and distributes toys, consumables, and electronics and related products worldwide. 

It operates in two segments, Toys/Consumer Products and Costumes.

The company offers action figures and accessories, such as licensed characters; toy vehicles and accessories; dolls and accessories, including small, large, fashion, and baby dolls based on licenses, as well as infant and pre-school products; private label products; and foot-to-floor ride-on products, inflatable environments, tents, and wagons. 

The company sells its products through in-house sales staff and independent sales representatives to toy and mass-market retail chain stores, department stores, office supply stores, drug and grocery store chains, club stores, value-oriented dollar stores, toy specialty stores, and wholesalers.

Shares have formed a bullish flag following the company's latest quarterly report. On July 27th, JAKK reported 2nd Quarter June 2022 earnings of $1.98 per share on revenue of $220.4 million. The consensus estimate was a loss of $0.73 per share on revenue of $122.1 million. Revenue grew 96.2% on a year-over-year basis. Higher share prices are expected.

Entry Point: $24.00

Stop Loss: $22.75

Trading Range: $7.50 to $26.25

Target Price: $26.40

Position closed on 8/10/2022 at price of $22.00 with a -8.33% loss in 6 days.

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