Good info Split. My gut told me Friday to buy back in after...

Good info Split. My gut told me Friday to buy back in after selling out at on the highs of last Friday. Went in boots and all around 94, got a good feel again. Watched the Yanks last night take it up another 10% before some profit taking at the end (that's IMO) Reckon we can expect a lift again over the coming weeks. I'm a believer again. Read this report after the close of Bus' in the USA

Andrew Left of Citron Research has built a reputation for his short-selling calls, but late Thursday, he referred to Root as a company that many investors don't truly understand. It's easy to see Root merely as an auto insurance company, Left suggested, but its disruptive technology puts it in a different category in his eyes. Accordingly, Left believes that the stock should be trading above its IPO price, which even after Friday's gains would be almost twice its current price.

Root takes advantage of the technological capabilities of modern smartphones to access detailed data about each specific customer's driving habits. By seeing whether drivers make smooth or abrupt turns and whether they routinely brake hard to come to a stop, Root can make more informed decisions about which customers to take on and how much to charge them in premiums.

Insurance is a tough industry with intense regulation that makes it harder to innovate. Nevertheless, at least in Citron's view, Root's stock doesn't deserve the shellacking it has taken in the months since its late October IPO. That had investors feeling better about the shares on Friday.

Charging up

Piedmont Lithium was up by 4% on Friday afternoon. That, too, was down from its gain of more than 10% earlier in the day, but investors are working hard to get out from under the overhang of a recent secondary stock offering.

Until earlier this week, Piedmont had been on top of the world: The stock had tripled since the beginning of 2021. The company is making progress on its efforts to develop lithium mining and refining operations in the Piedmont region of North Carolina, and strong demand for lithium due to rising production of electric vehicle batteries seemed to guarantee a big market for Piedmont once it started producing the metal.

The upsurge took a pause on Wednesday, though, when Piedmont priced a secondary offering of 1.75 million shares. The offering fetched just $70 per share, which was more than 20% below the stock's recent highs. That briefly knocked investors for a loop.

In the long run, though, Piedmont will need that cash to help it push through the start-up stage and into full production. Selling shares at relatively high levels was a smart move on management's part, and investors seem to be acknowledging that out as they push the stock back upward from its post-offering levels.

Piedmont and Root have been moving in opposite directions lately, but both have solid prospects for long-term growth. That has shareholders feeling better about their stocks today, and it'll be interesting to see what happens next to bolster their business prospects.