Cashing in on This Big Tech Holding After Shares Surge
Where we might consider revisiting our current Two rating
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
| GOOGL | Sell | 77 | $391.50 | 600 | 4.0% |
After you receive this alert, the Pro Portfolio will sell 77 shares of Alphabet (GOOGL) at or near $391.50. Following the trade, the Portfolio will own 600 shares, roughly 4.00% of the Portfolio.
Given the uncertainty in the marketplace, the sharp climb in the shares, which has caused them to become an outsized position for the Portfolio, and the lack of nearby technical support we are trimming back the portfolio’s position in Alphabet shares. This will lock in a hefty gain relative to the Portoflio’s average cost basis just below $85.
We continue to see Google as being well positioned as it continues to monetize Search and YouTube, and benefit from continued AI adoption and usage, a nice combo for Google Cloud.
With our Two rating in mind measured against our $410 price target, if we saw GOOGL shares retreat to something between $325 to $335, we would contemplate revisiting that rating.
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(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade’s executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long GOOGL.
