Risk Disclaimer

The positions in this portfolio are incredibly risky and extremely volatile.

No one at Get Irked is a professional financial adviser (or a doctor), so consult with your own financial adviser to see if any of these positions fit your risk profile (and stomach).

Danimer Sci (DNMR)

As if a down market weren’t bad enough for a speculative play like Danimer Scientific (DNMR), management decided to announce that it would be converting a few hundred million dollars of bonds, diluting the company’s shares. DNMR was positively walloped, losing -31.63% this week alone and capping off YTD drop of -46.71%. Take the Week’s Biggest Loser spot, DNMR, take it! YOWTCH!

Danimer Scientific (DNMR): Added to Position x 2

Danimer Scientific (DNMR) continued to be a disaster this week, dropping below the $6.00 mark and then the $5.00 mark, too, where it triggered buy orders that filled at $5.85 on Wednesday and $4.75 on Friday, giving me an average buying price of $5.30.

The combined orders lowered my per-share cost -8.46% from $13.00 to $11.90. My next buy target is at $3.65, another price determined by Fibonacci Resistance Method, and my next sell target is $12.80, slightly below a pop where I’m focusing more on reducing my allocation size than taking profits.

While many professionals would say I’m “trying to catch a falling knife” by buying DNMR in stages as it sells off, I ward off a lot of the risk by only buying tiny quantities. Once DNMR established consistent price history, I may increase my quantities, but, for the moment, the entire position is being kept stupidly small intentionally to limit the downside risk.

DNMR closed the week at $4.54, down -14.34% from my average buy.

DraftKings (DKNG): Added to Position

It’s funny. I had a commenter on YouTube tell me that DraftKings (DKNG) would never make it near $20 and then proceed to ask me how new was I to the markets (I started in the markets in 1998 for anyone who cares…). When bulls attack bulls for not being bullish enough, that’s almost certainly the sign of a market top, and this time was no different as DraftKings (DKNG) hit my next buy target on Thursday with an order that filled at $20.60.

The buy lowered my per-share cost -9.84% from $40.54 to $36.55 per share. From here, my next buy target is $16.10, near a past point of support, and my next sell target is $63.75, near the high of DKNG’s last bull rally in 2021.

DKNG closed the week at $19.46, down -5.53% from where I added Thursday.

GrowGeneration (GRWG): Added to Position

GrowGeneration’s (GRWG) epic selloff didn’t stop this week with the stock plumbing new 52-week lows and triggering a buy order which filled on Wednesday at $8.85. The buy lowered my per-share cost -5.35% from $21.50 to $20.30.

From here, my next price target to add to the position is $6.55, a past point of support, and my next sell target is $25.35, a point of resistance from GRWG’s last significant bull rally.

GRWG closed the week at $7.75, down -12.43% from where I added Wednesday.

Las Vegas Sands (LVS): Profit-Taking

In a sea of red in the markets, Las Vegas Sands (LVS) and the rest of the gambling gaming cohort continued taking off this week. LVS triggered a sell order I had in place which filled on Wednesday at $44.70, lowering my per-share cost -12.26% from $35.90 to $31.50.

The order locked in +24.58% in gains on shares I bought less than two months ago at $35.88 on November 30, 2021. From here, my next buy target is $33.90, above the low of the last selloff, and my next sell target is $66.50, right below LVS’s 2021 high from its last bull rally.

LVS closed the week at $43.75, down -2.13% from where I took profits Wednesday.

Virgin Galactic (SPCE): Added to Position

When Virgin Galactic (SPCE) dropped to $9.33 on Tuesday – pennies away from my $9.20 buy price target – I raised my price on Wednesday to pick up some shares at $9.50. The order raised my per-share “cost” from -$19.60 to -$9.90 (a negative per-share cost indicates all capital has been removed from the position and each share instead adds $9.90 to the portfolio’s bottom line in addition to the value of each share).

The buy order locked in a whopping -82.96% discount replacing some of the shares I sold for $55.74 back on June 25, 2021. From here, my next price target is $6.90, SPCE’s all-time low since coming public, where I will replace even more of the shares I sold last year. However, it’s important to remember that even though I have buy targets below $6.90, I will never put capital back into this position – I will only use the profits I’ve taken out of the position so I don’t turn this winning trade into a loser. My next sell target is $40.60, slightly below a consistent level of resistance for the stock.

SPCE closed the week at $8.47, down -10.42% from where I added Wednesday.