Block (SQ): Added to Position

Block’s (SQ) slow-but-steady decline continued this week with the stock triggering my next buy order on Wednesday, adding 2.61% to my position at $48.01 and locking in a -58.41% discount replacing shares I sold for $115.44 back on July 1, 2020.

The buy also raised my per-share “cost” +4.27% from -$71.87 up to -$68.80 (a negative per-share cost indicates all capital has been removed in addition to $68.80 per share added to the portfolio’s bottom line in addition to each share’s current value).

From here, my next buy target is $43.20, above a past point of support, and my next sell target is $80.79, just below the high Block saw in July and August of this year.

SQ closed the week at $44.71, down -6.87% from where I added Wednesday.

Dutch Bros (BROS): Added to Position

Dutch Bros (BROS) got hit pretty hard during Wednesday’s selloff, testing its lows from a few weeks ago after the announcement of its $300 million equity offering and triggering my next buy order which filled at $24.70, adding 2.42% to my allocation.

A relatively small buy, the order only lowered my per-share cost -1.46% from $34.20 down to $33.70. From here, my next buy target is $22.70, above a point of support BROS saw during the May 2022 selloff, and my next sell target is $37.30, a point of resistance Dutch Bros has seen several times over the years.

BROS closed the week at $23.66, down -4.21% from where I added Wednesday.

Roblox (RBLX): Added to Position

Roblox (RBLX) was positively pummeled this week, triggering my next buy order on Thursday which filled at $25.55, adding 2.29% to my position. The buy lowered my per-share cost -2.62% down from $43.95 to $42.80.

From here, my next buy target is $24.10, slightly above the low RBLX saw in June 2022, and my next sell target is $44.30, below a point of resistance Roblox has seen several times in the past.

RBLX closed the week at $25.40, down -0.59% from where I added on Thursday.

Skyworks Solutions (SWKS): Dividend Reinvestment

Skyworks Solutions (SWKS) paid out its quarterly dividend on Wednesday, which, after reinvesting, raised my per-share “cost” +0.69% from -$34.72 up to -$34.48 (a negative per-share cost indicates all capital has been removed in addition to $34.48 per share added to the portfolio’s bottom line in addition to each share’s current value).

The reason my per-share cost was raised is because there are now more shares splitting the same amount of profit. The position has become more profitable because of the additional shares, but the per-share “cost” is higher because of the additional shares.

From here, my next buy target is $76.60, just above SWKS’ 2022 low, and my next sell target is $154.06, just below a point of resistance Skyworks Solutions repeatedly hit throughout 2021-2022.