On Alert (BIMI): A Low Float Nasdaq Breakout Candidate with Explosive Chart History (Details Inside)
It's Monday morning and there's a new Nasdaq profile to saddle-up on your radar.
This bad boy has a tiny float. We're talking fewer than 3Mn shares.
What does that mean exactly? One big thing.
It means volatility needs to be on immediate watch.
Listen. Low float profiles have the potential to be exhilarating.
They're typically characterized by having a limited number of shares available for public trading.
In this case, fewer than 3Mn is on the lower end of low float profiles which means volatility could be extremely explosive in a blink.
Drop everything right now and get this Nasdaq idea pulled up:
*BIMI International Medical, Inc. (BIMI)*
BIMI is a healthcare products and services provider, offering a broad range of healthcare products and related services and operates five private hospitals in China.
The company currently operates in four segments: wholesale pharmaceuticals, wholesale medical devices, medical services and retail pharmacy.
The wholesale pharmaceuticals segment includes supplying prescription and OTC medicines, traditional Chinese medicines (“TCM”), healthcare supplies and sundry items to clinics, third party pharmacies, hospitals and other drug wholesalers.
The wholesale medical devices segment distributes medical devices, including medical consumables to private clinics, hospitals, third party pharmacies and other medical device dealers.
Medical services include private comprehensive hospitals operating in China.
And the retail pharmacy segment sells prescription and OTC medicines, TCM, healthcare supplies and sundry items to retail customers through its directly-owned pharmacies and authorized retail stores.
Grab more details here.
BIMI Is A Low Float Profile - Must Watch For Volatility
According to the Yahoo Finance website, BIMI has a tiny float.
The website reports this profile to have approximately 2.72Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
With this float size... Watch out. Just taking a look at BIMI's chart will reveal it has been capable of making multi-dollar jumps in no time at all.
#1. 5/23/22 - BIMI popped $4.00+ over 2 days.
#2. 8/22/22 - BIMI ripped $3.00+ over 2 days.
#3. 12/9/22 - BIMI surged $2.00+ intraday.
Could another big move be right around the corner?
Nothing is certain, but BIMI is trading above its 5-Day and 13-Day Exponential Moving Averages in a bullish short term trend.
There's zero time to waste this morning. Coverage is officially initiated on (BIMI). When time allows, do this: