Oppenheimer Eyes SoFi
The portfolio has obviously been hit by the ugly stick over the past couple of months as a focus on fundamentals has taken market priority over speculation. The portfolio has responded this week and last by adding to several of these badly performing positions at lower levels. On Tuesday morning, we’ll take a few more steps to try to clean up the book.
We’ll probably clean up the two options positions as those are the two positions where this book has done exceedingly well. By wrapping up those two shorts at close to maximum profits, we can then reload and short similar calls at better premiums, raising some cash in a way that does not overtly cause the book further pain.
Portfolio News
SoFi Technologies ($SOFI)
On Monday, SoFi Technologies announced that the firm’s management will be meeting virtually with analysts at Oppenheimer on Tuesday, November 3. As far as I can tell, Oppenheimer does not cover SOFI, so I do not know who has been assigned the stock. Unless I am missing something, which is possible, I would expect some kind of initiation of SOFI either this week or next by this firm.
Upcoming Portfolio Earnings
Ocular Therapeutix ($OCUL), Wednesday, November 4
Consensus: adjusted EPS of -$0.35 on revenue of $14.3 million
Aspen Aerogels ($ASPN), Thursday, November 5
Consensus: adjusted EPS of -$0.07 on revenue of $72.1 million
Peloton Interactive ($PTON), Thursday, November 5
Consensus: adjusted EPS of $0.13 on revenue of $552.7 million
Rocket Lab ($RKLB), Monday, November 9
Consensus: adjusted EPS of -$0.02 on revenue of $257.2 million
Evolv Technologies ($EVLV), Tuesday, November 10
Consensus: adjusted EPS of -$0.02 on revenue of $45.6 million
Ondas Inc ($ONDS), Friday, November 13
Consensus: adjusted EPS of -$0.09 on revenue of $148.1 million
Planet Labs ($PL), on or close to December 10
Consensus: adjusted EPS of -$0.03 on revenue of $104.5 million
Monday’s Intentions vs Actual Trades
Intention: Purchase 2 shares of RKLB at $53.00 or better. Limited.
Actual trade: Bought 2 shares of RKLB at $53.00
Intention: Purchase 2 shares of RKLB at $51.00 or better. Limited.
Actual trade: Bought 2 shares of RKLB at $51.00
Intention: Purchase 10 shares of OCUL at $6.80 or better. Limited.
Actual trade: Bought 10 shares of OCUL at $6.80
Tuesday’s Intentions
Purchase 10 shares of ONDS at $5.90 or better. Limited.
Purchase one OCUL $9 December 18 call at $0.15 or better. Limited. (Closes the options position.)
Purchase one PL $17 November 19 call at $0.10 or better. Limited. (Closes the options position.)
Current Positions
Long 60 shares of ($ASPN) at $5.1083. Target price: $10. Last sale: $4.82.
Long 50 shares of ($EVLV) at $5.33.92. Target price: $7.50. Last sale: $4.57.
Long 170 shares of ($OCUL) at $7.9692. Target price: $12. Last sale: $6.83.
Short one OCUL $9 December 18 call at $0.80. Last sale: $0.15.
Long 310 shares of ($ONDS) at $7.7002. Target price: $12. Last sale: $5.83.
Long 110 shares of ($PL) at $18.4543. Target price: $20. Last sale: $13.08.
Short one PL $17 November 19 call at $1.70. Last sale: $0.13.
Long 70 shares of ($PTON) at $5.0654. Target price: $9. Last close: $5.30.
Long 14 shares of ($RKLB) at $53.1907. Target price $84. Last close: $52.88.
Long 125 shares of ($SOFI) at $15.9644. Target price: $24. Last close: $16.70.
Cash: $478.93.
Portfolio value: $8,588.93, -14.0% from inception on March 24.
At the time of publication, Guilfoyle was long ASPN, EVLV, OCUL, ONDS, PL, PTON, RKLB and SOFI.
