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Trade Alert: Locking in some big profits from our Pandora short

June 13, 2017 by Cody Willard

I’m headed to Los Angeles again next week for a bunch of meetings with talent and agents and managers and publicists along with some networking with money managers and who knows what else for 3-4 days. I’ll be sure to post some analysis and updates and any Trade Alerts from the road.

Speaking of Trade Alerts, I’m going to go ahead and cover 1/3 of my Pandora short. Recall that when I’d last traded Pandora, it was to short more around $14-15 per share when it was spiking up on rumors of being a supposed acquisition target and/or that their declining business was magically turning around:

“I think they’re right that there will be additional costs that aren’t yet factored into most analysts’ estimates, but I do not expect that Pandora‘s going to see revenue growth ever get above its current 20-25% and is likely to actually slow, not accelerate. I’m going to re-short some Pandora shares that I’d covered a few months ago when the stock was in the single digits and I’d covered half my short.”

Funny, you know what the name of the article I linked to about covering half of my Pandora short when it was in the single digits?

Trade Alert: Locking in some profits from our homerun Pandora short

With the stock trading well below $8 per share right, at the lowest levels in many years, I’m going to go ahead and lock in some of those profits. I’d look to re-short these shares again if P ever gets back up above $12 or so in future months, though I doubt that will happen. In fact, I’d obviously cover all my Pandora short shares if I didn’t expect the stock will be a slow drip lower towards $5 or lower in months and quarters ahead.

Pandora has truly been an idea “paired trade” for our many tech longs. Rock on, as in like, Pandora’s a music station, see, so rock on.

 

 

 

Related posts:

Trade Alert - Social Decade Basket (and updated analysis on real estate)
Trade Alert: SEDG's up 500%, Reloading puts, A little trimming
The Tech Cold War, Gold or bitcoin?, Flying iPhones, T-Mobile 5G and more
Trade Alert - Herbalife close (and a personal note)
Trade Alert: Now is not the time to panic
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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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