ASO - Academy Sports & Outdoor stock setting up for volatile ride

Academy Sports and Outdoors (ASO) is on watch after a 9M share block is reported to being shopped by JPMorgan.After running up more than 48% this year, shares of ASO are down 5.05% in premarket action.ASO is one of the top trending stocks on WallStreetBets, but has also been mentioned favorably on the paved Wall Street.UBS analyst Michael Lasser: "We think elevated category demand for outdoor activities and home fitness continued through the holidays. Importantly, its 16.1% SSS was driven by strong performance in its non-legacy markets. Further, we think ASO has begun 2021 with strong momentum."It appears that ASO could be setting up a volatile stretch of trading.ASO currently trades above its 10-day, 50-day, 100-day and 200-day moving averages.

For further details see:

Academy Sports & Outdoor stock setting up for volatile ride