Why I’m Adding to 3 Stocks on Weakness
Sometimes to push forward, you have to take a little pain with your trades as we will today in the $10K Portfolio.
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This is not one of our favorite sports, but one we have to play. The portfolio will be attempting to add to its long positions in Aspen Aerogels (ASPN), Planet Labs (PL) and Peloton (PTON) this morning. This is an especially painful move for two of these names. One is Peloton, because we just initiated that name to the portfolio yesterday. Two is Planet Labs, because as readers know, we had intended to make a sale last week at $20.22 and were not able to because we could not get the article published quickly. Hence, the stock traded dramatically lower by publication and we are now adding with a $17 handle instead of congratulating ourselves for an excellent sale.
Portfolio News
– Evolv Technologies (EVLV): On Wednesday morning, portfolio holding Evolv Technologies announced that it had been approved as a Partner of the Partner Alliance for Safer Schools, a non-profit organization focused on improving safety and security in K-12 schools. Through this partnership, Evolv will participate in “PASS” training, collaboration, and knowledge-sharing initiatives. Evolv will, through this program, have the opportunity to learn from PASS’ research-based guidance and from educators, and public safety professionals.
– Planet Labs: On Tuesday, analyst Edison Yu of Deutsche Bank reiterated his “buy” rating on PL, while cutting his target price from $36 to $28. Yu is rated at four stars out of five by TipRanks. Over the past two years, he has compiled just a 44% success rate but has posted an average return of 19.7%.
On Tuesday, analyst Noah Poponak of Goldman Sachs reiterated his “hold” rating on PL, while cutting his target price from $25 to $24. Poponak is rated at four stars out of five by TipRanks. Over the past two years, he has compiled a 53% success rate with an average return of 13.4%.
– SoFi Technologies (SOFI): On Wednesday morning, Loop Capital initiated coverage of SoFi Technologies with a “hold” rating and $22 target price. There was no name attached to Loop Capital’s note so we cannot take a look at past performance.
Tuesday’s Intentions Vs. Actual Trades
– Purchase 10 shares of PL at or close to the last sale of $8.10.
– Bought 10 shares of PL at $18.06.
– Purchase 25 shares of PTON at or close to the last sale of $5.07.
– Bought 25 shares of PTON at $5.155.
Wednesday’s Intentions
– Purchase 20 shares of ASPN at or close to the last sale of $4.86
– Purchase 10 shares of PL at or close to the last sale of $17.69
– Purchase 10 shares of PTON at or close to the last sale of $5.02 with a $5.05 limit
Current Positions
Long 100 shares of ALTO at $4.5125. Target Price: $6.50. Last sale: $4.16.
Long 40 shares of ASPN at $5.23. Target Price: $10. Last sale: $4.86.
Long 100 shares of EVLV at $5.7883. Target Price: $8.50. Last sale: $5.10.
Long 100 shares of OCUL at $8.3545. Target Price: $11. Last sale: $11.49.
Short one OCUL $11 Sep 18th call at $1.65, Last sale: $0.65.
Long 225 shares of ONDS at $8.2091. Target Price: $12. Last sale: $7.53.
Long 60 shares of PL at $22.6361. Target Price: $33. Last sale: $17.69.
Long 25 shares of PTON at $5.155. Target Price: $9. Last sale: $5.02.
Long 5 shares of RKLB at $77.936. Target Price $97. Last sale: $67.49.
Long 100 shares of SOFI at $15.8511. Target Price: $24. Last sale: $17.93.
Short one SOFI $22 Nov 19th call at $1.20, Last sale: $0.70.
Long 50 shares of SWBI at $14.0414. Target Price: $19. Last sale: $13.22.
Long 85 shares of VELO at $12.0971. Target Price: $18. Last sale: $11.82.
Cash: $1,235.91.
Portfolio Value: $10,054.20, +0.5% from inception on March 24.
At the time of publication, Guilfoyle was long ALTO, ASPN, EVLV, OCUL, ONDS, PL, PTON, RKLB, SOFI, SWBI, VELO equity. Short OCUL, SOFI calls.
