After a Tough Run for the $10K Portfolio, Time to Get Back in the Win Column
From up 32% to slightly underwater, here’s what recently went awry — and what’s next.
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Can’t brag with performance like this. That’s for sure. Since the $10,000 Portfolio was launched back on March 24, we have been down since inception and up as much as 32% since inception. Now, it appears that we are down from our starting point since inception yet again.
I know this is not funny for those of you investing alongside me. This is real money for me too, as this is not a model portfolio, but one actually backed with my own funds. Fortunately, this is not my only portfolio, but still, actual capital is actual capital.
We don’t have an official benchmark as there is no index restricted in the way we are, that being a capped initial investment that at times forces sales in order to create cash. We also have the additional restriction of having to wait after an article is written, for publication, in order to act, which often costs us multiple hours. In short, my thoughts have to be public information before I can buy or sell anything associated with the portfolio. This has cost us significantly when trying to exit a few names of late. This is also a once-a-day portfolio, not one where I am permitted to make decisions later on during the same session.
Those are mere excuses, though. The real culprit is me. I have put this portfolio in the wrong stocks in incorrect increments, at the wrong time. Period. I will make every effort to correct the course and right this ship. It’s about money for me, but now it’s about ego too. Nobody likes to get their tails kicked.
The portfolio was a big hit when we were up 30%+. I will do my best to get us back in the win column with an eye on catching up to the Russell 2000 by year’s end, That index is up 19% since the inception of our portfolio. I apologize to you, the readers, for the portfolio’s performance over the past couple of months.
Portfolio News
Evolv Technologies
On Wednesday, Evolv Technologies (EVLV) announced that management will Meet with Lake Street in Chicago on July 20 and in Denver on July 21. Lake Street’s Eric Martinuzzi (5 stars at TipRanks) rates EVLV a “buy” with a $10 price target. Evolv will also meet with Craig-Hallum in Boston on July 22nd. Craig-Hallum’s Jeremy Hamblin (5 stars at TipRanks) rates EVLV a “buy” with no price target.
Ondas Inc.
On Wednesday, Ondas (ONDS) announced that management will meet with Oppenheimer on July 21st. Oppenheimer’s Timothy Horan (5 stars at TipRanks) maintains a “Buy” rating on ONDS with a $16 price target.
Planet Labs
On Wednesday, analyst Michael Latimore of Northland Securities reiterated his “buy” rating on Planet Labs (PL) along with his $50 price target. Latimore is rated at four stars out of five by TipRanks. Over the past two years, he has only a 37% success rate but has generated an average return of 16.8%.
Additionally, Planet Labs announced that management will meet with Citizens in London, England on July 22. Citizens’ Trevor J. Walsh (5 stars at TipRanks) has a “hold” rating on PL with no price target.
Wednesday’s Intentions vs. Wednesday’s Actual Trades
– Sell 15 shares of RXT at $5.25. Limited price.
– Nothing Done.
– Purchase 10 shares of PL at or close to the last sale of $25.70.
– Bought 10 shares of PL at $25.46.
– Purchase 10 shares of EVLV at or close to the last sale of $6.25.
– Bought 10 shares of EVLV at $6.04.
– Purchase 10 shares of INSG at or close to the last sale of $8.17.
– Bought 10 shares of INSG at $8.04.
Thursday’s Intentions
– Purchase 10 shares of INSG at or close to the last sale of $7.49.
– Purchase 25 shares of RXT at or close to the last sale of $4.11.
Current Positions
Long 150 shares of ALTO at $5.51. Target Price: $8. Last sale: $5.19.
Long 80 shares of EVLV at $5.8959. Target Price: $8.50. Last sale: $5.88.
Long 30 shares of INSG at $8.56. Target Price: $11. Last sale: $7.49.
Long 200 shares of OCUL at $8.271. Target Price: $11. Last sale: $9.36.
Short one OCUL $11 Sep 18th call at $1.65, Last sale: $0.47.
Short one OCUL $9 July 17th call at $0.90. Last sale: $1.46.
Long 300 shares of ONDS at $8.6489. Target Price: $14. Last sale: $6.68.
Long 30 shares of PL at $27.0367. Target Price $46. Last sale: $22.97.
Long 35 shares of RXT at $6.4529. No Target Price. Last sale: $4.11.
Long 145 shares of SOFI at $15.9559. Target Price: $24. Last sale: $17.79.
Short one SOFI August 21st $20 call at $1.02. Last sale: $0.77.
Long 30 shares of SWBI at $15.74. Target Price: $19. Last sale: $15.14.
Long 70 shares of VELO at $13.4723. Target Price: $18. Right Now. Last sale: $10.99.
Cash: $269.20.
Portfolio Value: $9,955.93, -0.4% from inception on March 24th.
At the time of publication, Guilfoyle was long ALTO, EVLV, INSG, OCUL, ONDS, PL, RXT, SOFI, SWBI and VELO.
