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).
Trades in Play – January 25, 2019
Highlights from the Week
• As talked about in this week’s Core Holdings Trades in Play, Square (SQ) and Canopy Growth (CGC) both saw continued moves to the upside this week, popping 7.93% and 11.40%, respectively. Naturally, Cronos (CRON) lifted higher, too, thanks to cannabis news.
• Yamana Gold (AUY) saw quite the pop this week, reversing its YTD downward slide with a 11.26% bump, closing the week up 8.9% on the year.
• Tencent Music (TME) continues to be an incredibly volatile mover. It jumped an additional 6.41% this week, but not without flip-flopping all the way up. We whipsawed back and forth quite a bit.
This Week’s Trades
• Canopy Growth’s (CGC) new analyst reviews resulted in yet another huge up week. Not to look a gift horse in the mouth, I took some profits at $47.43, leaving my position up 232.13% from the initial investment when CGC closed the week slightly higher at $48.15.
• Cronos (CRON), CGC’s sister, also jumped like a pogo stick this week. I took profits at $16.12, lowering my per-share cost to $3.57, a gain of 348.46% from CRON’s $16.01 weekly close.
• GoPro (GPRO) saw some upward momentum this week, too. I decided to close the position with an 11.04% gain to move on to a different position (Insys Therapeutics).
• Insys Therapeutics (INSY), a biopharmaceutical company which develops pain relief for cancer patients using opioid-based drugs, is having a rough time of it thanks to cannabis. It got slammed again this week but seemed to put in a bottom around $3.65. We decided to flip our GoPro (GPRO) position in favor of opening a position at $3.75 with additional buy orders set at significantly lower levels. INSY closed the week slightly higher at $3.81.
• Novavax (NVAX) saw a 6.83% pop this week inviting us to sell a little $2.20, lowering our per-share cost to $1.55, up 41.29% from its $2.19 weekly close.
• Square’s (SQ) dropped a bit, hitting our buy order at $68.93 before it exploded to the upside, closing the week at $78.10, up 27.99% from our per-share cost of $61.02.
• Tencent Music (TME) kept us busy this week – we sold some at $15.08, bought back at $14.63, sold at $16.00, and bought in again at $15.31. All this market action resulted in a per-share cost of $5.12, up 201.17% at TME’s weekly close of $15.42.
• Zynga (ZNGA) saw some upward movement this week, but I decided to take my 22.4% in profits and move on. The mobile gaming space is simply too competitive and ZNGA just didn’t feel right in the portfolio anymore.
Speculative Holdings Status
• Year-To-Date Performance: +14.61%
• Cash: 77.70%
• Invested: 22.30%
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.