Pinterest (PINS)

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?

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.