We're Ringing the Register on This Holding on Strength
As we downgrade the name another notch, here are the levels we’re watching for our next move with the shares.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
MA | Sell | 55 | 539 | 175 | 2.0 |
After you receive this Alert, the portfolio will sell 55 shares of Mastercard MA at or near $539. Following the trade, MA shares will account for roughly 2.0% of the portfolio's holdings.
We are using the recent rebound in MA shares to lock in a meaningful gain for the TheStreet Pro Portfolio and reduce the portfolio’s MA exposure. We are making this move after downgrading the shares to a Three rating following a wave of weaker-than-expected guidance from retail, airlines, and other related consumer spending companies, and signs consumers are tightening their belts.
In keeping with our stated plan for MA shares, we will look to use additional strength in the share price to further unwind the position as they approach and or move past the 50-day moving average near $546. With that in mind, we will downgrade MA one more step to a Four rating and suspend our price target.
(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 chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long MA.
