The Week’s Biggest Winner & Loser
Virgin Galactic (SPCE)!!!
From a raging dumpster fire to the first Biggest Weekly Winner for three weeks in a row, Virgin Galactic (SPCE) is putting on quite a show with 10% swings in a single day not being unusual at all. As I’ve said before, this one’s more volatile than Bitcoin’s been lately.
On the other side of the coin from Virgin Galactic (SPCE), we have Pinterest (PINS), the social media used-to-be-darling who’s been the Biggest Loser for three out of the past four weeks. There seems to be no reprieve for this stinker. Maybe its next earnings report will break the spell?
Target Position Size
Current Position Performance
1st Buy: 2/26/2019 @ $23.23
Current Per-Share: $9.50
1st Buy: 1/10/2019 @ $19.54
Current Per-Share: (-$37.04)*
Tradeweb Mkts (TW)
1st Buy: 4/8/2019 @ $39.22
Current Per-Share: $35.37
Virgin Galactic (SPCE)
1st Buy: 10/31/2019 @ $9.87
Current Per-Share: $8.77
1st Buy: 10/30/2019 @ $29.79
Current Per-Share: $29.96
Gossamer Bio (GOSS)
1st Buy: 12/17/2019 @ $14.51
Current Per-Share: $14.51
General Electric (GE)
1st Buy: 12/19/2019 @ $11.08
Current Per-Share: $11.08
1st Buy: 5/16/2019 @ $25.72
Current Per-Share: $21.80
Revolve Group (RVLV)
1st Buy: 6/13/2019 @ $39.06
Current Per-Share: $25.25
Put Spread (SPY Dec 31)
Cost: 12/20/2019 @ $0.70
Current Value: $0.23
* Indicates a position where the capital investment was sold.
Profit % for * positions = Current Gross Profit / Original Capital Investment
This Week’s Moves
Virgin Galactic (SPCE): Profit-Taking
I took profits in Virgin Galactic (SPCE) on Thursday when it crossed $11.75, a key Fibonacci Retracement level as this bizarre stock (it’s rocketed more than 70% in just over 20 trading days) continues to take aim at regaining and potentially breaking its all-time high of $12.90 as it seemingly heads to infinity and beyond!
SPCE made its all-time high on its first day of listing in the U.S. on October 29 before plummeting to its all-time low of $6.90, a drop of nearly -50% less than a month later on November 25.
My sell order on Thursday used a trailing-stop which filled at $11.69, selling about 15% of my position with a +26.24% gain made in less than two months since my first buy on October 31.
The sale also lowered my per-share cost -5.29% from $9.26 to $8.77. My next sell target is much higher around $16.50, near another key Fibonacci Retracement level.
Given the insane volatility of this stock in its short lifespan on the U.S. market, my next buy target is way down where the stock found significant support around $7.36 with additional targets should it retest its low (and below).
SPCE closed the week at $11.56, down -1.11% from where I sold on Thursday.
Want Further Clarification?
As always, if you have questions about any of my 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.