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El Pollo Loco (LOCO) was Friday's hot IPO in July 2014 and shares are gapping up to $26 in pre market this morning. LOCO stock traded between $19-$20 early in the day on Friday but then busted above $20 and quickly rallied to $23.85. With one hour to go in the trading session, shares surged above $24 and a large 100,000 share block was filled right at $24.40 on the close. El Pollo Loco (LOCO) stock then hit $25 in after hours.
Buy El Pollo Loco (LOCO) stock now? With the heavy volume, LOCO is more of a trading stock right now. The company isn't growing that fast but with only 7-8 million shares in the float right now, there will be huge swings over the next two weeks. LOCO will need to display solid earnings into the lock up in 6 months to be able to hold these large gains. Buy and hold LOCO below $24, trade it above $25.
Also see - Top Stocks 2014 - Top Stock Gainers 2014
