Smith Douglas Homes Corp

$SDHC

This one’s a new IPO from January -

As a resident of the Northeast, I’m intrigued by housing developers in the Southeast given the relative lack of affordability up here.

The company’s doing ~$770M in revenue against a market cap of under $250M.

Obviously not much trading history, but the opening price of $23.50, and the AVWAP from open of just over $24.38 are identifiable floors/stop out points.

Relative strength in the Homebuilders ETF XHB 0.00%↑ has cooled off from power move made during the run-up into December of last year. Still, price has held strong and has been consolidating very nicely since. This provides a good macro backdrop for speculating on a smaller name such as SDHC 0.00%↑ .