Wall Street wisely says you shouldn’t put all your eggs in one basket. But how big is your basket — and what’s in it? With the IBD Breakout Opportunities ETF (BOUT), you instantly get a piece of a wide range of growth stocks with just one ETF.
Updated weekly, the BOUT ETF features stocks that are set to or already have launched new breakouts. Names currently on the breakout index range from IBD Long-Term Leaders like Veeva Systems (VEEV) and MSCI (MSCI) to well-known companies like Lululemon Athletica (LULU), Twitter (TWTR) and Advanced Micro Devices (AMD).
The BOUT ETF also includes several new IPOs, such as fabrics and sewing leader Joann (JOAN). Started in 1943, Joann has 855 stores across 49 states. The Ohio-based company launched a new IPO in March after being taken private back in 2011.
Growth Stocks Set To Hatch New Breakouts
Other leading growth stocks on the Breakout Stocks Index are setting up potential buy points.
Since forming its IPO base in March and April, Joann has stitched together a nice run. Although based on comparisons to prior quarters that showed a loss, Joann has delivered four straight stanzas of triple-digit EPS gains. Sales growth has slowed from 21% to 15% in its latest report on June 3. Joan is looking to sew up a new breakout from a 17.60 entry.
Specialty chemicals manufacturer Olin (OLN) is also looking to conjure up a new move. Olin spiked 428% off its lows last August before pulling back in early June of this year. The stock is testing support at its 10-week line as it builds a cup-shape base showing a 51.14 buy point.
IBD Breakout Opportunities ETF
The IBD Breakout Opportunities ETF from Innovator Capital Management tracks the IBD Breakout Stocks Index. As with other index ETFs, this fund allows you to essentially invest in the entire index in addition to or rather than buying the individual stocks. Learn more here about the ETF and Innovator funds.
Follow Matthew Galgani on Twitter at @IBD_MGalgani.
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