May 24, 2019
Target Position Size
Desired Cash On-Hand
Current Position Performance
Cypress Semi (CY)
Canopy Growth (CGC)
IDEXX Labs (IDXX)
GW Pharma (GWPH)
JP Morgan (JPM)
Take Two Inter (TTWO)
* Indicates a position where the capital investment was sold.
Divide position’s current price by gains to calculate initial buy price
Highlights from the Week
Biggest Winner: GW Pharmaceuticals (GWPH)
GW Pharma (GWPH), our favorite “don’t-call-us-cannabis” long-term cannabis play continues to push higher, even in a down market. GWPH gained +4.90% this week rapidly nearing the coveted 100% YTD gain at +90.93% and earning it the weekly winner.
Biggest Loser: Nvidia (NVDA)
Despite reporting good earnings, Nvidia (NVDA) got hit hard this week when the U.S. planned direct sanctions against Chinese electronics manufacturer, Huawei. Nvidia lost -7.09% which was a bigger drop than other tech companies with Chinese exposure including Apple (AAPL) and Xilinx (XLNX) which dropped -5.31% and -3.39%, respectively.
This Week’s Moves
Canopy Growth Corp (CGC): Added to Position
Canopy Growth (CGC) continues to be the sector leader in the consumer cannabis space, making deals and proving to be the #1 competitor.
Since CGC has absolutely NO Chinese exposure and won’t be directly affected by tariffs (indirectly – consumers may curb discretionary purchases which could affect sales), we believe the stock to be fairly safe to add more even during a trade war, so we added to our position on Thursday at $44.18, making our per-share cost $17.50.
We have an additional buy target to add more at $37.10.
CGC closed the week at $44.35, up +0.04% from our purchase.
Dow (DOW): Added to Position
We once again added to Dow (DOW) during Thursday’s selloff at $49.21, bringing our per-share cost down to $51.50.
At these levels, Dow yields dividend in excess of 5.6%. Although there could be further pain ahead, this long-term position provides a significant amount of support with a dividend that high.
Our next buy target is now below Dow’s $48.00 IPO price at $47.50.
Dow closed the week at $49.20 after dropping to a weekly low of $48.22.
Nvidia (NVDA): Added to Position
We were a little exuberant during the market’s recovery from December’s lows, and sold a bit more of our Nvidia (NVDA) position than we should have at $153.10. We remedied the situation when we added less than half of what we sold in January back to our Nvidia (NVDA) position at $147.69 (a 3.5% price reduction from our January sale) during Thursday’s selloff.
We intend to replace the rest of the shares we sold in January if Nvidia hits our next buy target price of $131.71 as trade war concerns continue.
NVDA closed the week at $145.15, down -1.72% from where we added.
Xilinx (XLNX): Added to Position
The U.S. sanctions directly targeting Huawei, one of Xilinx’s (XLNX) biggest customers, hit XLNX hard Monday morning, knocking it down more than 5% hitting our buy order at $99.08. Our per-share cost is now $107.39.
After the Department of Commerce pulled the reigns back slightly on the ban, XLNX and the other semiconductor manufacturers saw a brief bounce. During Thursday’s trading, XLNX held up well, however we’re still stepping into this one slowly with buy targets at $98.64 (we weren’t able to get a full order on Monday), $88.00, $74.78 and $69.52.
XLNX closed the week at $101.21, up +2.15% from where we added.
Want Further Clarification?
As always, if you have questions about any of our positions or have positions of your own that you’re curious about – feel free to leave a comment below!
See you next week!
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.
As always, all individuals should consult their financial advisers to determine if an investing idea is right for them. All investing comes with levels of risk with some ideas and strategies carrying more risk than others.
As an individual investor, you are accountable for assessing all risk to determine if the strategy or idea fits with your investment style. All information on Get Irked is presented for educational and informational purposes only.