Taking Advantage of Jensen Huang’s ‘Gift’
After you receive this Alert, the Pro Portfolio will sell 95 shares of Marvell ($MRVL) at or near $275. Following the trade, we will own 600 MRVL shares, accounting for roughly 2.65% of the Portfolio’s assets.
| Symbol | Transaction Type (Sell/Buy) | # Shares Traded |
|---|---|---|
| MRVL | Sell | 95 |
While we certainly agree with Nvidia ($NVDA) CEO Jensen Huang that networking is poised to be a bottleneck for AI adoption, as responsible investors we have to acknowledge when an opportunity presents itself to lock in slice of massive gains in a Portfolio holding.
That’s what we’re doing with MRVL today, given the high probability the shares are getting ahead of themselves following Jensen’s uber-bullish comment about the company’s prospects. As we write this Alert, MRVL’s relative strength index (RSI) is north of 84, flashing a deep overbought condition. We see that same condition for the S&P 500 and the Nasdaq Composite, and that is not lost of us as we make this trade.
Following updated guidance from Dell ($DELL) last week, and Hewlett Packard Enterprise ($HPE) last night, and earnings tomorrow night from Broadcom ($AVGO), we’ll look to revisit our MRVL price target later this week.
More Pro Portfolio:
- Locking in Big Gains and Downgrading This Sleeper Position
- We’re Tracking 29 Signals Across 9 Portfolio’s Investment Themes
- May Monthly Roundup: Sell in May? No Way!
(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 AVGO, MRVL and NVDA.
