Top Pick Tuesdays – January Picks Update

This week we are revisiting our Top Pick Tuesday’s from January 2024. While it has not been a long time since posting these ideas, this update serves as a reminder of the challenges we face in this ever-evolving market. While the market is setting all time highs, let’s have a look and see where we stand!

Altria Group, Inc. (MO:NYSE)
Price at Preparation: $41.34 (Jan 12th, 2024)
Price at Update: $39.73 (Mar 4th, 2024)
Gain/Loss: -4%

Update

Altria Group, Inc. (MO:NYSE) was chosen primarily to take advantage of the dividends. As we discussed in the original article outlining the plan, there was to be some volatility and identified a potential buy price at $40.93 USD, with potential for a better fill given the volatility of the triangle ranges. The price did drop slightly below giving a better fill and then hit the intersection as predicted however, post that intersection the price action has weakened slightly. As you can see since introducing this trade, the price is down approximately 4% with the deadline approaching for the ex-dividend date, which should be paying $0.98 USD per share held as of that date. Even though the trade is a little down, there is nothing that has been identified to break the thesis originally set out – so we continue according to the plan and collect the dividend payout.

TransUnion (TRU:NYSE)
Price at Preparation: $67.69 (Jan 26th, 2024)
Price at Update: $78.98 (Mar 4th, 2024)
Gain/Loss: 17%

Update

TransUnion (TRU: NYSE) has accelerated well and is up a remarkable 17% in just over a month. The company did well on their Q4, 2023 earnings by beating their estimates and propelled the stock above the 12-month price target of $74.16 USD which was set by analysts. The stock is fast approaching their 52-week high of $82.75 USD. TransUnion does have a dividend payout soon, so there might be some volatility in the short term. Since this stock has moved up relatively fast, it will be prudent to secure at least some profit. Please refer to the original article for the thesis and plan that was set in motion.

For more content consider our Theta Bandits Discord community, a hub for traders to ask questions, share ideas and strategies for various tickers daily. Traders in this community could potentially attacked these same picks with different methods discussed in previous Top Pick Tuesdays.

Disclaimer: This article is for informational and educational purposes only, not investment advice. We recommend researching and consulting with a financial advisor before making investment decisions. All actions based on this information are at your own risk.

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