We're Adding to 3 Holdings After Recent Weakness
We’re honing in on oversold status, technical support and AI adoption to our advantage.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
AXON | Buy | 31 | $701 | 246 | 3.25% |
COST | Buy | 13 | $937.50 | 218 | 3.85% |
BROS | Buy | 555 | $59 | 2,925 | 3.25% |
After you receive this alert, we will make the following trades:
Buy 31 shares of Axon AXON at or near $701. Following the trade, the Portfolio will own 246 AXON shares, roughly 3.25% of the Portfolio.
Buy 13 shares of Costco COST at or near $937.50. Following the trade, the Portfolio will own 218 COST shares, roughly 3.85% of the Portfolio.
Buy 555 shares of Dutch Bros BROS at or near $59. Following the trade, the Portfolio will own 2,925 BROS shares, roughly 3.25% of the Portfolio.
While we are enjoying Thursday's strength in the Portfolio as our shares of Alphabet GOOGL, ServiceNow NOW, Labcorp LH and United Rentals URI move higher following the earnings they posted in the last 18 hours, we are taking advantage of the now oversold status of COST shares and continued pullback in BROS and AXON shares to pick up additional ones for the Portfolio.
Over the last 18 months, the few times the relative strength index (RSI) level for COST shares moved below 30, it has been a nice opportunity to buy shares. We are once again seeing that opportunity, one that is augmented by continued wallet share gains, evidenced by comparing its monthly revenue reports against other consumer spending metrics, including the monthly Retail Sales report.
We’ve shared how we were keeping a close watch on BROS shares, and they too are knocking on the oversold door as well as support at their 200-day moving average. On the heels of CEO Christine Barone’s interview with Nation’s Restaurant News that reiterated the company’s expansion plans, we are stepping further into the shares. This move will lead us to reset our pickup point to $60 from $65, and in turn nudge our panic point to $50 from $55.
Turning to Axon, while the shares are not oversold at current levels, comments from SAP SE SAP, ServiceNow NOW and others regarding AI adoption are leading us to pick up some additional AXON shares. Following the trade, we will have room to pick up additional shares should they continue to trade off, something that, in our view, would make the risk-to-reward tradeoff even more compelling given the company metrics we discussed with you recently.
More Pro Portfolio
- We're Scooping Up More Shares of These 2 Holdings
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- $20 'Prime' Shoppers; Gray New Yorkers; Hacker Hacks; and More Investing News
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to toggle the “+” next to the position’s ticker to sort Purchase and Date data.)
At the time of publication, TheStreet Pro Portfolio was long AXON, COST, BROS, GOOGL, NOW, LH and URI.
