June 28, 2019 

Portfolio Allocation

Current Position Performance

Highlights from the Week

Biggest Winner: Aurora Cannabis (ACB)

Aurora Cannabis (ACB) saw a +7.12% pop this week, presumably on assumptions that this small yet popular player in the consumer cannabis space is a takeover target.

ACB's having a good year, earning itself a +59.92% gain just since the year start. That, and this week's gain, makes it our Weekly Winner.

Biggest Loser: Revolve Group (RVLV)

Revolve Group (RVLV), the online millenial fashion/social media player, got hit hard this week along with the rest of the fresh IPOs, dropping significantly before rebounding to close the week down -11.22%.

The other redhot IPOs saw bigger rebounds than Revolve which may indicate it has further upside, but that's one hard to say when looking at its still respectable +37.12% gain from its IPO price.

This Week’s Trades

Revolve Group (RVLV): Added to Position

Revolve Group (RVLV) sold off along with the rest of the new redhot IPOs on Monday, triggering buy orders we had in place at $38.34, $36.40 and $34.65.

IPOs are notoriously volatile and RVLV is no exception. After our first buy of RVLV at $39.06, it rocketed +23.8% to an all-time high of $48.36. Then, on Monday, it dropped more than -20.7% to hit our price target at $38.34... and then headed lower.

The selloff continued as the week progressed, with us adding to our position again on Wednesday at $33.30, lowering our per-share cost to $36.35.

Future price targets are $30.11, $27.61, $25.33, $23.20 and $19.50.

RVLV closed the week at $34.50, up +3.60% from where we added on Wednesday.

Slack (WORK): Added to Position

Like Revolve Group (RVLV) above, Slack (WORK) also sold off dramatically during Monday's trading, filling a buy order we had in place at $36.05 which lowered our per-share cost to $38.55 from an initial average of $39.05.

Due to the overbought condition of our Slack allocation, we have sell orders in place starting at $38.57, slightly above our per-share cost but below a potential level of resistance, in order to reduce the position to the allocation target for our portfolio.

Future buying price targets are $32.25, $28.61, $26.26 and $25.18.

WORK closed the week at $37.50, up +4.02% from where added on Monday.

Questions?

As always, If you have questions about how we're playing different positions or anything at all, really, feel free to leave a comment below!