Stocks: Why I Like Atmus Filtration (ATMU) Right Now!

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Stocks: Why I Like Atmus Filtration (ATMU) Right Now!

Postby Recyclersteve » Thu Aug 15, 2024 4:59 pm

Several people here know that I follow the stock market closely. One deal I talked about back around Feb.-March was an exchange offer deal involving 2 companies (Cummins Engine (CMI) and Atmus Filtration (ATMU)). Just so you know that deal worked out REALLY WELL for those who did it.

Now, I have a different opportunity. Forget about Cummins- this deal is for buying shares of Atmus Filtration (ATMU) right now at around Thursday's closing price of $33.94.

Let me back up and say that during the exchange offer I made over $5,000 doing the Cummins/Atmus exchange. Since then I have traded ATMU close to 40 times (including 3 today where I made another $700+). I have made money on each and every ATMU trade, although I did have to double down on perhaps 3-5 or so of the trades.

The stock hit a new 52-week high today and I like the fact that it did it on only a bit more than half their average volume. That tells me this is a bit of a hidden gem and I do sincerely mean that. The stock, even after a nice move, sports a P/E (price to earnings) ratio of just 16. Wow! That is something, which, when discovered, could really run a bit. People like Gary Kaltbaum of Investor's Edge and Investor's Business Daily track strong stocks like this. If anyone like that notifies their clientele, watch for a continued move higher with larger volume than today.

Please, don't go in with everything you have and be vulnerable if it pulls back 10-20%. Any stock could do that! On the other hand, on Monday, August 5th, when the Japanese market had gone down 25% in just 2-3 days, this stock actually went UP! That is a really strong testament right there.

Oh yeah, this is my early nomination for Rookie of the Year for 2024. It has done really well this year and today hit a new high after going pretty much sideways for about 4 months. In other words, this stock was taking a breather after another sharp move up earlier this year.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
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Re: Stocks: Why I Like Atmus Filtration (ATMU) Right Now!

Postby silverflake » Fri Aug 16, 2024 5:07 pm

Thanks Steve, it's on the radar!
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