March 1, 2024
The Week’s Biggest Winner & Loser
Coinbase (COIN)
When your directly-correlated, underlying asset skyrockets in value, so will your stock. That’s what happened to Coinbase (COIN) this week when Bitcoin exploded through the $60K mark and nearly made it to $64,000. Coinbase, the crypto exchange, mooned along with Bitcoin, rallying a whopping +23.90% this week, easily snagging the spot of the Week’s Biggest Winner.
Snowflake (SNOW)
No matter the reason, whenever a company’s CEO suddenly and unexpectedly resigns, it’s a bad thing. Compound that with a disappointing earnings report and the fact that Snowflake’s (SNOW) CEO, Frank Slootman, was almost single-handedly responsible for bringing Snowflake’s stock to nose-bleed valuations, and you get an epic selloff. SNOW did bounce before the end of the week, but it still finished down an incredibly painful -18.61%, snagging the Biggest Loser position.
Portfolio Allocation
Positions
%
Target Position Size
Current Position Performance
Nvidia (NVDA)
+2151.93%*
1st Buy 9/6/2016 @ $15.67
Current Per-Share: (-$565.77)*
Apple (AAPL)
+943.98%*
1st Buy 4/18/2013 @ $14.17
Current Per-Share: (-$86.99)*
Logitech (LOGI)
+728.96%*
1st Buy 11/11/2016 @ $24.20
Current Per-Share: (-$8.30)*
Boeing (BA)
+668.49%*
1st Buy 2/14/2012 @ $79.58
Current Per-Share: (-$200.25)*
Block (SQ)
+582.80%*
1st Buy 8/5/2016 @ $11.10
Current Per-Share: (-$66.90)*
Tesla (TSLA)
+541.87%*
1st Buy 3/12/2020 @ $37.10
Current Per-Share: (-$48.28)*
IDEXX Labs (IDXX)
+488.21%*
1st Buy 7/26/2017 @ $167.29
Current Per-Share: (-$220.95)*
Skyworks (SWKS)
+488.01%*
1st Buy 1/31/2020 @ $113.60
Current Per-Share: (-$34.27*
Nike (NKE)
+405.51%*
1st Buy 2/14/2012 @ $26.71
Current Per-Share: (-$10.41)*
Dow (DOW)
+335.20%*
1st Buy 5/13/2019 @ $53.18
Current Per-Share: (-$0.32)*
Amazon (AMZN)
+263.71%
1st Buy 2/6/2018 @ $69.15
Current Per-Share: $49.00
Salesforce (CRM)
+259.48%
1st Buy 6/11/2018 @ $134.05
Current Per-Share: $88.20
Disney (DIS)
+192.49%*
1st Buy 2/14/2012 @ $41.70
Current Per-Share: (-$9.15)*
Arm Hldgs (ARM)
+145.01%*
1st Buy 9/14/2023 @ $57.28
Current Per-Share: (-$24.50)*
JP Morgan (JPM)
+141.95%*
1st Buy 10/26/2017 @ $102.30
Current Per-Share: (-$39.42)*
SoFi (SOFI)
+136.59%
1st Buy 11/22/2022 @ $4.80
Current Per-Share: $3.80
Alphabet (GOOGL)
+135.46%
1st Buy 9/16/2022 @ $101.93
Current Per-Share: $58.24
Meta (META)
+127.58%*
1st Buy 9/16/2017 @ $128.58
Current Per-Share: -($323.00)*
Take Two (TTWO)
+124.56%
1st Buy 10/9/2018 @ $128.40
Current Per-Share: $66.95
Berkshire (BRK.B)
+83.55%*
1st Buy 8/2/2019 @ $199.96
Current Per-Share: (-$2,281.99)*
Morgan Stan (MS)
+52.57%
1st Buy 4/25/2022 @ $83.50
Current Per-Share: $56.69
Visa (V)
+51.67%*
1st Buy 5/9/2022 @ $194.00
Current Per-Share: (-$511.38)
Zoetis (ZTS)
+47.38%
1st Buy 6/13/2022 @ $157.55
Current Per-Share: $129.45
Brookfield (BN)
+37.94%
1st Buy 9/25/2023 @ $32.44
Current Per-Share: $30.11
Palo Alto N (PANW)
+12.00%
1st Buy 2/22/2024 @ $270.00
Current Per-Share: $270.00
Schwab (SCHW)
+7.59%
1st Buy 4/18/2022 @ $76.30
Current Per-Share: $61.76
Roblox (RLBX)
-1.96%
1st Buy 9/29/2021 @ $77.00
Current Per-Share: $42.15
Coinbase (COIN)
-8.82%
1st Buy 4/14/2021 @ $412.47
Current Per-Share: $225.66
Snowflake (SNOW)
-9.75%
1st Buy 2/12/2024 @ $231.00
Current Per-Share: $206.90
Dutch Bros (BROS)
-10.44%
1st Buy 9/20/2021 @ $42.25
Current Per-Share: $33.15
Shopify (SHOP)
-12.84%
1st Buy 2/12/2024 @ $91.00
Current Per-Share: $87.90
Twilio (TWLO)
-33.20%
1st Buy 8/8/2019 @ $125.71
Current Per-Share: $90.40
Rivian (RIVN)
-54.72%
1st Buy 11/12/2021 @ $127.00
Current Per-Share: $25.06
Canopy (CGC)
-91.86%
1st Buy 5/24/2018 @ $295.30
Current Per-Share: $39.50
* Indicates a position where the capital investment was sold.
Profit % for * positions = Total Profit / Starting Capital Investment
A negative share price indicates the dollar amount of profit for each share currently held.
This Week’s Moves
Alphabet (GOOGL): Added to Position
When Alphabet (GOOGL) broke down on Monday, it triggered my next buy order filling at $137.76 and adding 2.69% to the position. The buy locked in a -7.98% discount on some of the shares I sold at $149.71 back on January 24 and raised my per-share cost +20.96% from $48.15 to $58.24.
From here, my next buy target is $129.89, above the a key level of support, and my my next sell target is $199.00, just under round-number psychological resistance at $200.
GOOGL closed the week at $137.14, down -0.45% from where I added Monday.
Schwab (SCHW): Dividend Reinvestment
Schwab (SCHW) paid out its quarterly dividend on Monday which, after reinvestment, lowered my per-share cost -0.39% from $62.00 down to $61.76. From here, my next buy target is $60.41, slightly above the level of support Schwab saw earlier in 2024, and my next sell target is $81.26, just under a key level of resistance SCHW has seen in the past.
Snowflake (SNOW): Added to Position
On Wednesday evening, Snowflake (SNOW) positively collapsed when notable CEO Frank Slootman announced he would be retiring from the CEO position. However, my concerns were addressed when Sridhar Ramaswamy was named CEO and Slootman said he would be staying on as Chairman of the Board. Ramaswamy has extensive experience running startups and also served as Google’s (GOOGL) head of advertising; I believe he’ll be a great CEO for the company.
Accordingly, I added 11.70% to my position at $182.80. The buy lowered my per-share cost -10.43% from $231.00 to $206.90. From here, my next buy target is $153.95, slightly above a past point of support, and I still have no sell targets as I really do believe Snowflake has a lot of runway ahead of it as we move into the AI revolution.
SNOW closed the week at $186.72, up +2.14% from where I added Wednesday.
See you next week!
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Disclaimer: Eric “Irk” Jacobson and all other Get Irked contributors are not investment or financial advisers. All strategies, trading ideas, and other information presented comes from non-professional, amateur investors and traders sharing techniques and ideas for general information purposes.
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