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Trade Alert: Taking profits on 3 stocks (one full cover, two trims)

September 24, 2018 by Cody Willard Leave a Comment

Well, it looks like SiriusXM is going to pay a few billion bucks for Pandora P. And get this, the purchase price could be around half the price at which we shorted P back a couple years ago. Given that P was a short hedge to all of our App Revolution longs including Facebook, Google, Amazon and that all of those stocks have gone through the roof while Pandora has collapsed and is throwing in the towel here at a fraction of a price that most of their shareholders paid for their stock over the years — and the fact that we’ve locked in profits on this short at lower prices while we had the chance too…well, let’s just declare victory on this short hedge and move on. I’m covering my P short.

I’m also going to sell 10% of my Sony SNE here around $57, up from the mid-teens where we bought it a few years ago. I’ve taken profits a couple times along the way before here and am just doing the usual prudent thing here, following our playbook.

I’m also going to sell about 10% of my Palo Alto Networks PANW. The stock’s been on a tear for the last few months as I’d expected it might and again, it’s just prudent to lock in some profits. This is the first time I’m trimming PANW with it up about 50% here from where we bought it a year ago.

 

 

 

Related posts:

Trade Alert: Out of $GTAT with profits PLUS How to profit from Samsung's decline
Trade Alert - Half a cover, small tranche trim, and the chart of the day
Trade Alert: Snap And The Importance Of Valuations
Trade Alert: If a tree falls...
Trade Alert: Economy, market, hedging, trimming
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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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