LPLA stock was reviewed last Friday April 08 as the IBD Stock Of The Day, as the stock cleared a buy point. The company is experiencing accelerating sales and earnings growth, capitalizing on a trend whereby more investors are seen to be turning to professionals for investment advice.
Additionally, the stock was discussed in the trading room on Monday, for those investors seeking a potential bullish trade. LPL Financial was one of three stocks on the most active list as well.
LPL Financial (LPL) added over 2,500 investment advisors last year, while focusing on the strength of its North American network of nearly 20,000 financial professionals. The company also gained access to 900 financial advisors and wealth management professionals as part of its acquisition of Waddell & Reed Financial, Inc. (“Waddell & Reed”) from Macquarie Management Holdings, Inc in April 2021.
That year, LPL’s assets swelled to a record $1.2 trillion, jumping 34% year over year. The company benefited from the 28.7% gain in the S&P500 and through its recruiting efforts.
LPL Financial – Technical Breakout
Shares of LPL Financial rose nearly 3% on Monday, despite the US indices weakness. LPLA popped above a 191.08 buy point from a cup-with-handle base that started forming in early February of 2022.
We noted in the trading room yesterday that LPL Financial held its 21-day exponential moving average over the past two days.
LPL Financial earnings are tentatively scheduled for April 28, so we are looking for opportunities to buy some shares/options in the company on dips into that time frame.