October 4, 2019
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).
Target Position Size
Current Position Performance
1st Buy: 1/10/2019 @ $19.54
Current Per-Share: $18.04
1st Buy: 2/26/2019 @ $23.23
Current Per-Share: $18.75
Tencent Music (TME)
1st Buy: 12/14/2018 @ $12.96
Current Per-Share: $10.76
Canopy Growth (CGC)
1st Buy: 8/21/2018 @ $38.28
Current Per-Share: $20.69
1st Buy: 5/16/2019 @ $25.72
Current Per-Share: $25.12
Tradeweb Mkts (TW)
1st Buy: 4/8/2019 @ $39.22
Current Per-Share: $37.57
Gossamer Bio (GOSS)
1st Buy: 9/26/2019 @ $17.07
Current Per-Share: $16.52
1st Buy: 3/7/2019 @ $17.68
Current Per-Share: $15.34
Iridium Comm (IRDM)
1st Buy: 3/25/2019 @ $26.28
Current Per-Share: $23.56
Revolve Group (RVLV)
1st Buy: 6/13/2019 @ $39.06
Current Per-Share: $31.59
Cronos Group (CRON)
1st Buy: 12/3/2018 @ $10.27
Current Per-Share: $11.88
Highlights from the Week
Biggest Winner: Tradeweb Markets (TW)
After taking it on the chin over the past few weeks, Tradeweb Markets (TW) finally bounced, grabbing a +8.57% gain to earn this week’s Biggest Winner spot! It seems that the market remembered that TW is one of the only IPOs that actually has a profitable business model, and, wait for it, is actually making profits, to boot!
Biggest Loser: Iridium Communications (IRDM)
While the entire stock market got thrown all over the place this week, Iridium Communications (IRDM) got hit particularly hard, losing -4.69% and earning its spot as this week’s Biggest Loser. I’m looking into why, exactly, IRDM got hit so hard. This week, IRDM announced a new government contract and also received a decent rating from Moody’s who believe the outlook is stable for IRDM.
This Week’s Trades
Canopy Growth Corp (CGC): Added & Reduced Position
Canopy Growth Corporation (CGC), the Canadian consumer cannabis company, once again fell below $24.00 on Monday, triggering a buy order I had in place at $23.22.
On Wednesday, CGC fell even further on disappointing earnings from other Canadian cannabis companies combined with the market-wide sell-off, triggering a buy order I had in place at $20.88. The order solidified my per-share cost at $20.92, a reduction of -45.35% from where I first opened a CGC position in my Trades in Play portfolio on August 21, 2018 at $38.28 a share.
On Thursday, CGC popped along with the rest of the market, leading me to sell some of the shares at $22.78 which I bought on Wednesday, locking in a 9% profit in one day and lowering my per-share cost just a little over 1% from $20.92 to $20.69. More importantly, the move capitalizes on what could be a short-term bounce to free up investment capital to put back to work if the market sees another dramatic push down.
My next buy target for CGC is $18.88.
CGC closed the week at $22.92, up +0.61% from where I sold on Thursday.
Gossamer Bio (GOSS): Added & Reduced Position
Gossamer Bio (GOSS) collapsed through its all-time low of $15.59 during Tuesday’s selloff, triggering a buy order I had at the far-too-high price of $16.03. The order lowered my per-share cost 3.05% from $17.07 to $16.55.
Since GOSS dropped to $15.45 on Tuesday – below its previous all-time low of $15.59 – I lightened up some shares on Wednesday at $16.70 when GOSS saw a bounce in the midst of a raging market-wide sell-off, lowering my per-share cost marginally to $16.52 but lowering my allocation to free up capital.
I have a new order to replace the shares I sold on Wednesday at $15.47 if GOSS pulls back to that level, as well as a more substantial buy order in place at $13.87 (slightly above a key Fibonacci Retracement level) in case all Hell breaks loose and GOSS loses all support.
GOSS closed the week at $16.46, down -1.44% from where I sold on Wednesday.
Pinterest (PINS): Added to Position
Pinterest (PINS) continued to sell off on Monday, dropping through $25.50 and triggering a buy order I had in place at $25.34. The buy order raised my per-share cost a slight 0.48% from $25.00 to $25.12.
At this point, Pinterest has become oversold on its daily Relative Strength Indicator (RSI) which could potentially indicate a bounce from these levels coming very soon. That being said, I do have another buy order in place at $23.06 – just a penny above PINS’ all-time low and below my new per-share cost basis of $25.12.
PINS closed the week at $27.25, up +7.54% from where I added on Monday.
Yeti (YETI): Added to Position
Yeti (YETI) sold off with the rest of the market on Wednesday, triggering a buy order I had in place at $26.11 which raised my per-share cost to $18.75. My next buy order is much lower at $23.25.
My current per-share cost is -19.29% lower than my first buy back in February 2019 at $23.23 with a position size 5 times as large as my initial opening. I’m happy with YETI’s performance and will continue to add during market-wide sell-offs.
YETI closed the week at $28.46, up +9.00% from where I added on Wednesday.
As always, If you have questions about how I’m playing different positions or anything at all, really, 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.