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Trade Alert: How to work with WORK (Slack) and two nibbles

September 9, 2019 by Cody Willard 1 Comment

The indices are hiding just how badly some of the highflying momentum stocks are being crushed out there. Cloud names especially are being hit hard, with many like TTD, OKTA, TWLO down double digit percentages.

I’ve started a position in WORK here. The stock is down another 10% today, and it’s been killed since it came public just a few weeks ago. I do think Slack is a new de facto standard for communications in the enterprise and that it will eventually become a consumer product too. It’s very expensive, trading at 15x next year’s sales estimates but unlike most of the other cloud names that are being killed today, it’s got the potential to become a household name. I plan to build it up into a pretty big-sized position in the portfolio, but won’t do all my buying today. Maybe 1/3 or more of a full-sized position though.

I also nibbled a little SQ and a little SEDG.

On another note, I’m open to suggestions on how to caption this photo when I tweet it out later today:

And also tomorrow morning, join me tomorrow (Tuesday) morning at 10am ET for this week’s Live Q&A Chat.  Join me in the TWC Chat Room or just email us your question to support@tradingwithcody.com.

 

 

 

 

Related posts:

Trade Alert: One nibble, one trim, one sell
Trade Alert: Gold Standard of Network Security
Trade Alert: Second tranche of this new name
Trade Alert: Storage Non-Wars (and pics from the Red River trip)
Trade Alert: Biotech microcap buy and a biotech ETF short
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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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  1. carl tropper says

    September 11, 2019 at 11:03 am

    Caption: Who’s the boss?

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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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