03Aug10:58 amEST

New York City Proof of Vaccines: You Got a Gift, My Friend

One of the big news items this morning is out of New York City, where Mayor Bill de Blasio mandated proof of vaccines for a range of indoor venues, from employees and customers of indoor eateries, to gyms, and entertainment centers like MSG. The order goes into effect August 16th, with full enforcement beginning September 13th. De Blasio said that the mandate will be known as the "Key to NYC Pass." 

Clearly, this a bold news item, and mirrors what is happening in various places in Europe. 

In terms of enforcement and how it relates to us as market players, the firm which comes to mind is Clear Secure, Inc. a technology company that owns and operates CLEAR, a secure identity platform that stores individuals' personal information and links it to biometric data, allowing them to bypass the travel document checker at security checkpoints by using fingerprint and/or iris identification.

The ticker symbol is YOU, which actually is down hard today so far apparently on a downgrade. Next earnings for YOU are August 16th which is, ironically, the day the NYC order goes into effect.

Thus, the issue is whether today's sizable dip (after an explosive prior rally) is a buying opportunity. I am leaning towards an affirmative on that, as the market seems a bit spooked by the NYC order beyond the seasonally rough patch we are headed towards. 

With a ton of hot money likely being shaken out of YOU today on the downdraft, I am looking for $51.50, highlighted below on the YOU daily chart, to hold as support. $51.50 marks last Friday's highs to the penny, and as long as that now holds as support I view this wild price action as part and parcel of a hot money stock prone to various headline risks but, ultimately, a name which should benefit if these orders stand.

Indeed, the powers that be likely need some electronic form of verification of the vaccines, given how easy it likely is to attain fake verification, say, via buying empty forms on eBay. 

Other logical names to watch off the NYC order: APRN CODX DASH PTON. 

Stock Market Recap 08/02/21 ... Look Here for the Next Play ...

 
BackToTop
 

This website is intended for educational purposes only. | © 2021 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site