We Nailed Our Tractor Supply Call Ahead of Earnings
Following Wednesday night's earnings report, shares of Tractor Supply are surging more than 8%.
Tractor Supply (TSCO) - Get Report was the number three gainer in the S&P 500 Thursday morning. The stock is up more than 8%, at $57.82, as of 2:45 p.m. and is headed for its biggest gain in over a year. This powerful earnings-inspired breakout has left behind a solid base and has the added fuel of a fairly high short-interest ratio (5.4). Back on July 14, we viewed TSCO as a low-risk buy near current levels. The stock closed that day near $51.50 and has remained above $51.00 since. With today's impressive ramp, TSCO is now up more than 10% from the July 14 close and is set up well for more upside.
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At the time of publication, Morrow was long TSCO.
