Adding to 2 Names as We Hope Third Time’s a Charm on a Sale

The stock that won’t wait.

Yes, still. It happened again on Monday. For the second time in as many trading days, the price that I had intended to sell a portion of the $10,000 Portfolio’s long position in Rackspace Technologies (RXT) close to, was nowhere in sight by the time the article hit publication. Hence, I did not make a sale on Monday, and the intention was as stale as week-old bread by the time you read it.

I will place an RXT offer on the book above the market Tuesday morning after publication just in case we see another spike. As the stock has been unable to hold pre-opening prices into regular trading hours, we are going to have to be there when the stock gets there, not react in less than real time.

With That in Mind…

The portfolio is going to put some cash to work, should markets allow, in Ondas Inc. (ONDS), as we did on Monday, and in Velo3D (VELO), which we took a pass on for a couple of days. This allowed the share price to come in. We have less conviction in this name than some of the others considering the short report that had been published by Morpheus research in late June. We’re either taking advantage of some artificial weakness or getting picked off. We’ll know down the line.

Eyes on…

Readers should be aware that the Ocular Therapeutix (OCUL) $9 July 17th call that we are short at $0.90 will expire this Friday evening. That call traded as low as $1.00 on Monday. I intend to either let it expire or get called away on 100 shares.

Readers who have similar positions to the ones in this portfolio need to consider what they intend to do with this options position ahead of Friday’s closing bell.

Monday’s Intentions vs. Monday’s Actual Trades

– Sell 15 shares of RXT at or close to the last sale of $5.20.
– Nothing Done.

– Purchase 25 shares of ONDS at or close to the last sale of $7.17.
– Bought 25 shares of ONDS at $6.95.

Tuesday’s Intentions

– Sell 15 shares of RXT at $5.25. Limited to price.

– Purchase 10 shares of VELO at or close to the last sale of $12.35.

– Purchase 25 shares of ONDS at or close to the last sale of $6.98.

Portfolio News

Planet Labs

On Tuesday morning, analyst Anthony Valenti of Goldman Sachs was assigned coverage of Planet Labs (PL) by his firm. Valenti placed a “hold” rating on PL while increasing his price target to $25 from $22. Valenti is rated at zero stars out of five by TipRanks. Over the past two years, he has had just a 15% success rate while incredibly generating an average return of -23.8%. Not kidding.

Rackspace Technologies

On Tuesday morning, analyst Keith Bachman of BMO reiterated his “hold” rating on RXT as well as his $5 price target. Bachman is rated at four stars out of five by TipRanks. Over the past two years, he has had just a 45% success rate, but while generating an average return of 8.7%.

Current Positions

Long 150 shares of ALTO at $5.51. Target Price: $8. Last sale: $5.95.

Long 70 shares of EVLV at $5.8746. Target Price: $8.50. Last sale: $6.01.

Long 20 shares of INSG at $8.82. Target Price: $11. Last sale: $8.32.

Long 200 shares of OCUL at $8.271. Target Price: $11. Last sale: $9.81.
Short one OCUL $11 Sep 18th call at $1.65, Last sale: $1.53.
Short one OCUL $9 July 17th call at $0.90. Last sale: $1.00.

Long 275 shares of ONDS at $8.7915. Target Price: $14. Last sale: $6.98.

Long 20 shares of PL at $27.8225. Target Price $46. Last sale: $25.88.

Long 35 shares of RXT at $6.4529. No Target Price. Last sale: $4.55.

Long 145 shares of SOFI at $15.9559. Target Price: $24. Last sale: $18.06.
Short one SOFI August 21st $20 call at $1.02. Last sale: $0.98.

Long 30 shares of SWBI at $15.74. Target Price: $19. Last sale: $14.99.

Long 60 shares of VELO at $13.6343. Target Price: $18. Right Now. Last sale: $12.35.

Cash: $964.11.

Portfolio Value: $10,493.19, +4.9% from inception on March 24th.

At the time of publication, Guilfoyle was long ALTO, EVLV, INSG, OCUL, ONDS, PL, RXT, SOFI, SWBI and VELO.