Adding to a Couple of Troubled Positions as July Comes to a Close
The $10,000 Portfolio will continue its process of adding to struggling positions at below net basis prices. We have tried to make sales in these names at elevated prices when seen. Those efforts have fallen short as often these stocks move sharply in between the time we see a price we like and actual publication.
FYI, the portfolio may not front-run its own publication and execute trades prior to informing our readers, which does put us at a distinct disadvantage. We are also limited to one publication per day. Hence, if something comes up later on, we may not act. If those sound like excuses, they are not. We have struggled. We knew the ground rules prior to embarking on this project. That said, they are obstacles we have to overcome, and they do make it significantly more difficult than simply managing a portfolio.
Today, we’re going to try to add to our “longs” in Alto Ingredients ($ALTO) and Velo3D ($VELO). We’re also going to lob a “below the market” bid in Rocket Lab ($RKLB) at the market (the one we swung and missed on Thursday) just in case there is a selloff later. Have a nice weekend, gang. July sure went by quickly, didn’t it?
Friday’s Intentions
– Purchase 25 shares of ALTO at or close to the last sale of $4.68.
– Purchase 15 shares of VELO at or close to the last sale of $10.20.
– Purchase 2 shares of RKLB at $61.50 or better.
Thursday’s Intentions vs Actual Trades
– Purchase 2 shares of RKLB at or close to the last sale of $61.13.
– Nothing Done. Market moved prior to publication.
– Purchase 10 shares of $PL at or close to the last sale of $19.81.
– Bought 10 shares of PL at $20.79.
Portfolio News
Planet Labs
On Thursday, Planet Labs Germany reportedly announced that it was selected for a seven-figure award from the Scottish Government’s Agricultural and Rural Economy Directorate. Under this one-year agreement, Planet Labs will deliver PlanetScope data and advanced analytics to support Scotland’s Agricultural Reform Route Map.
SoFi Technologies
On Friday morning, analyst Peter Christiansen of Citigroup reiterated his “buy” rating on SoFi ($SOFI) along with his $30 price target. Christiansen is rated at one star out of five by TipRanks. He has compiled a 43% success rate over the past two years, driving an average return of -7.4%.
Upcoming Portfolio Earnings
– Inseego Corp ($INSG): After the closing bell on Wednesday, August 5. Expected: Adjusted EPS of -$0.12 on revenue of $39.91 million.
– Alto Ingredients (ALTO): After the closing bell on Wednesday, August 5. Expected: Adjusted EPS of $0.09 on revenue of $231.22 million.
– Ocular Therapeutix ($OCUL): Ahead of the opening bell on Thursday, August 6. Expected: GAAP EPS of -$0.39 on revenue of $13.2 million.
– Rackspace Technology ($RXT): Ahead of the opening bell on Tuesday, August 11. Expected: GAAP EPS of -$0.09 on revenue of $646 million.
– Ondas Inc. ($ONDS): Ahead of the opening bell on Thursday, August 13. Expected: Adjusted EPS of -$0.07 on revenue of $68 million.
Current Positions
Long 200 shares of ALTO at $5.3611. Target Price: $8. Last sale: $4.68.
Long 80 shares of $EVLV at $5.8959. Target Price: $8.50. Last sale: $5.58.
Long 40 shares of INSG at $7.7563. Target Price: $11. Last sale: $6.81.
Long 100 shares of OCUL at $8.3569. Target Price: $11. Last sale: $8.48.
Short one OCUL $11 Sep 18th call at $1.65, Last sale: $0.68.
Long 250 shares of ONDS at $8.4266. Target Price: $14. Last sale: $7.65.
Long 50 shares of PL at $24.4758. Target Price $46. Last sale: $20.65.
Long 4 shares of RKLB at $66.505. Target Price $98. Last sale: $66.45.
Long 100 shares of RXT at $4.886. No Target Price. Last sale: $4.21.
Long 100 shares of SOFI at $15.7153. Target Price: $24. Last sale: $16.33.
Long 30 shares of $SWBI at $15.74. Target Price: $19. Last sale: $14.90.
Long 100 shares of VELO at $12.4561. Target Price: $18. Right Now. Last sale: $10.20.
Cash: $673.11.
Portfolio Value: $9,831.47, -1.7% from inception on March 24th.
