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Trade Alert: Putting more cash to work in wearables

September 11, 2015 by Cody Willard

You know I’ve been patient waiting for stocks to pullback to levels that I can get excited about and we are getting there.

FitBit, GoPro and Ambarella are all getting squashed today, and I’m going to nibble a little bit of each of them today, using common stock. I don’t expect that I’m nailing an exact bottom today, but I use my playbook to tranche into a little more of these names while the rest of the market is panicking themselves out of them even as their valuations are finally compelling.

I’m buying back some more of the AMBA that we sold back when it was well into the triple digits, near $120 a share or so. I’m back to about as many shares as I had before I’d been trimming and taking profits on its spike over the last year from $20 to $130. AMBA is expected to earn $3.60 per share next year which gives them a forward P/E of 17, which is about what the broader stock market’s P/E is. Meanwhile, AMBA grow its topline 50% this year and will likely do 20-30% revenue growth or more next year.

I’m also adding a 1/5th-sized tranche of GPRO and FIT today, just scaling in on weakness. I guess you could say I’m scaling in and buying wearables stocks when the rest of the world hates them.

 

 

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Filed Under: Trade Alert

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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