Rocket Lab Hits Price Target After Dilution Update
We paid a price for some inaction.
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News regarding $10K Portfolio names:
Amazon (AMZN)
On Wednesday, analyst Mark Mahaney of Evercore ISI reiterated a buy rating on (AMZN) without setting a target price. Mahaney is rated at five stars out of five at TipRanks. Over the past two years, he has a 51% success rate, but with an average return of 23.6%.
On Wednesday, analyst Ken Gawrelski of Wells Fargo reiterated a buy rating on AMZN, while cutting his target price from $313 to $312. Gawrelski is rated at one star out of five at TipRanks. Over the past two years, he has a 45% success rate, but with an average return of -1.8%.
On Wednesday, analyst Dylan Carden of William Blair reiterated a buy rating on AMZN without setting a target price. Carden is rated at one star out of five at TipRanks. Over the past two years, he has a 40% success rate, but with an average return of -1.6%.
On Thursday morning, analyst Justin Post of Bank of America reiterated a buy rating on AMZN along with his $310 target price. Post is rated at five stars out of five at TipRanks. Over the past two years, he has a 64% success rate, but with an average return of 30.9%.
Palantir Technologies (PLTR)
On Thursday morning, analyst John McPeake of Rosenblatt reiterated a buy rating on (PLTR) along with his $225 target price. Galinko is rated at four stars out of five at TipRanks. Over the past two years, he has a 66% success rate, but with an average return of 22%.
Rocket Lab (RKLB)
On Wednesday evening, news broke. On May 20, Rocket Lab (RKLB) entered into an equity distribution agreement with BofA Securities, Inc., BTIG, LLC, Cantor Fitzgerald & Co. and other bankers as sales agents. Under the agreement, the company may offer and sell, from time to time, shares of the company’s common stock, par value $0.0001 per share, through or to the sales agents, having an aggregate offering price of up to $3 billion.
Yes, folks, the shares are trading lower due to a potential dilution event. I saw on Wednesday that RKLB hit the portfolio’s target price but thought that I could wait for morning. Hence, the price of inaction. I know better.
Upcoming Portfolio Earnings
Planet Labs (PL): After the closing bell on Thursday, June 4th
Wednesday’s Intentions vs Wednesday’s Actual Trades
Intention: Sell 25 shares of (MBLY) at or close to $9.66, closing the position
Actual trade: Sold 25 shares of MBLY at $9.77
Intention: Purchase 2 shares of AMZN at or close to the last sale of $264
Actual trade: Bought 2 shares of AMZN at $263.71
Thursday’s Intentions
Ocular Therapeutix (OCUL) has fallen out of bed of late with no new news. The portfolio is going to try to make the position work for us by selling a covered call against the stake. Options in this name are illiquid. Hence, this is an order where the price is limited. Do not enter a market order. Your order would be executed poorly.
Intention: Sell (write) one OCUL July 17 $9 call at $0.75 or better
Current Positions
Long 2 shares of AMZN at $263.71. Target price: $324. Last sale: $264.51.
Long 60 shares of (EVLV) at $5.9895. Target price: $8.50. Last sale: $5.90.
Long 150 shares of OCUL at $8.305. Last sale: $8.06.
Short one OCUL $11 September 18 call at $1.65. Last sale: $1.05.
Long 125 shares of (ONDS) at $9.4749. Target price: $14. Last sale: $9.34.
Long 10 shares of PL at $37.18. Target price: $47. Last sale: $42.06.
Long 12 shares of PLTR at $140.30. Target price: $194. Last sale: $135.37.
Long 7 shares of RKLB at $62.6157. Target price: $132. Last sale: $125.31.
Long 125 shares of (SIDU) at $2.725. Target price: $6. Last sale: $3.75.
Long 200 shares of (SNAP) at $5.7642. Target price: $7.50. Last sale: $5.57.
Short two SNAP October 16 $6 calls at $0.87. Last sale: $0.86.
Long 175 shares of (SOFI) at $15.9573. Target price: $24. Last sale: $15.57.
Short one SOFI August 21 $20 call at $1.02. Last sale: $0.74.
Long 45 shares of (VELO) at $12.0136. Target price: $20. Last sale: $18.19.
Cash: $415.67
Portfolio value: $11,371.00, +13.7% from inception on March 24.
At the time of publication, Guilfoyle was long AMZN, EVLV, OCUL, ONDS, PL, PLTR, RKLB, SIDU, SNAP, SOFI and VELO.
