Apple (AAPL): Dividend Reinvestment

Apple (AAPL) paid out its quarterly dividend on Friday evening, which, after reinvestment, raised my per-share “cost” +0.13% from -$77.48 up to -$77.38 (a negative per-share cost indicates all capital has been removed in addition to $77.38 per share added to the portfolio’s bottom line in addition to each share’s current value). 

From here, my next buy target in AAPL is $144.31, above a key level of support it saw during the 2022 Bear Market, and my next sell target is $198.08, just below Apple’s current all-time high.

Coinbase (COIN): Profit-Taking

When news broke Tuesday that the CEO and Founder of crypto exchange competitor, Binance, would be stepping down, more than $1.5 billion in customer funds were withdrawn from Binance. While unconfirmed where the funds went, many investors believed it would flow into Coinbase (COIN).

As a result, Coinbase’s stock roared to life and triggered my next sell order on Wednesday, selling 10.00% of my allocation at $109.45 and locking in a double (+100% gain) on shares I bought for $54.72 on May 11, 2022.

Rather counter-intuitively, this sale raised my cost basis +5.26% from $208.00 to $218.95. 

Why did I sell under my cost basis?

Coinbase didn’t just sell off a little during the 2022 bear market, Coinbase imploded, crashing -87.69% from where it opened 2022 down to its all-time low at $31.55, a total drop of -91.72% from where it originally opened for public trading at $381.00 and a staggering -92.65% from its all-time high set the same day at $429.54.

Without question, Coinbase has been an absolutely epic destroyer of value. 

Accordingly, I’ve decided I need to lock in gains when buys have doubled or more from where I added them, even if that means raising my cost basis. I do believe that, over the very long term, Coinbase may define itself as the leader and may regain its all-time highs, however, I think the volatility over that time period could continue to be dramatic given how dramatic the price action in the cryptocurrency sector remains.

From here, my next buy target is $47.90, above the low Coinbase made earlier in 2023, and my next sell target is $156.55, near a key Fibonacci Retracement level.

COIN closed the week at $115.00, up +5.07% from where I took profits Wednesday.