Pot Basket: Canopy Growth (CGC) & GW Pharma (GWPH)

Given the current weakness in the consumer cannabis space combined with the volatility in the biopharma space, I’ve decided to reduce risk in my Investments in Play portfolio by combining my two cannabis positions – Canopy Growth Corporation (CGC) and GW Pharmaceuticals (GWPH) – into a single position.

The result increases the overall target allocation for every position from 6.67% to 7.14% and also reduces my overall potential exposure to the cannabis and biopharma sectors should either (or both) implode.

From here on, the Portfolio Basket will show CGC and GWPH as a single “Pot Basket” position rather than as the individual names.

Logitech (LOGI): Profit-Taking

Logitech (LOGI) made new all-time highs on Wednesday, triggering a sell order I had in place at $78.25. The sale locked in +127.01% in gains on shares I bought for $34.47 back on March 12.

The sale also served to lower my per-share cost -5.63% from $26.65 to $25.15. While I normally wouldn’t take profits on a position until it exceeds my portfolio’s allocation target (currently 6.67%), Logitech is up nearly +63% year-to-date and my discipline dictates I take advantage of those gains.

My next sell target is $93.90 and my next buy target is $51.25 near a past point of support.

LOGI closed the week at $77.78, down -0.6% from where I sold Wednesday.