Infleqtion Earns Fresh Buys as the $10,000 Portfolio Closes Options
Why we're closing out our puts and news on Palantir, Evolve Technologies and Infleqtion.
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Several names from the $10,000 Portfolio are in the news on Tuesday morning.
Here's the rundown, plus several trade updates...
Infleqtion
On Tuesday morning, Infleqtion (INFQ) was initiated with a "buy" rating by Citigroup analyst Atif Malik with a $20 price target. Malik is rated at five stars out of five by TipRanks.
This past Friday, Infleqtion was initiated with a "buy" rating by BTIG analyst Jesse Sobelson with a $22 price target. Sobelson is rated at four stars out of five by TipRanks.
Palantir Technologies
On Tuesday morning, Mizuho analyst Gregg Moskowitz reiterated his "buy" rating on Palantir Technologies PLTR, but did reduce his price target to $185 from $195. Moskowitz is rated at just one star out of five by TipRanks.
Evolv Technologies
On Tuesday morning, Evolv Technologies (EVLV) announced a multi-year renewal and expansion of its hardware and software subscription agreement with Crypto.com Arena in Los Angeles. The renewal extends the arena's original 2024 deployment of Evolv Express and expands the partnership to include Evolv eXpedite, which is the firm's autonomous bag-screening system, further strengthening entry operations at the venue.
Crypto.com Arena is the sports venue formerly known as the Staples Center. This is the home of the NBA's Los Angeles Lakers, the NHL's Los Angeles Kings and the WNBA's Los Angeles Sparks.
Monday's Intention vs Monday's Actual Trade
Intention — Sell 1 share of PLTR at or close to the last sale of $133.59 in order to cover an error and bring the position back down to the intended 10 shares.
Actual Trade — Sold 1 share of PLTR at $134.30.
Tuesday's Intention
I am expecting a peace deal or at least some kind of extension to be made to the ceasefire in the Middle East.
I am going to buy back the SoFi Technologies (SOFI) call that I had sold in order to reduce net basis in the case that the stock might implode in the wake of the Muddy Waters short report. That does not appear to be happening. I think the stock goes much higher than $18, which is my current strike price expiring in late May.
I am also going to close out the Ondas Holdings (ONDS) call though a peace deal that might not be good for business. I expect the entire market to rally from here, albeit with some volatility, possibly into the midterms.
- Buy to close 1 SOFI May 26th $18 call at or around the sale price of $1.01.
- Buy to close 1 ONDS May 8th $10.50 call at or around the sale price of $0.60.
Current Positions
Long 150 shares of (SOFI) at $15.988. Last sale: $17.39.
Long 125 shares of (OCUL) at $8.061. Last sale: $8.92.
Long 125 shares of (ONDS) at $9.4749. Last sale: $9.61.
Long 10 shares of (PLTR) at $145.03. Last sale: $134.28.
Long 15 shares of (RKLB) at $67.1653. Last sale: $72.99.
Long 25 shares of (INFQ) at $9.965. Last sale $13.12.
Long 75 shares of (SIDU) at $2.029. Last sale: $5.01.
Long 50 shares of (EVLV) at $6.0898. Last sale: $6.40.
Short 1 SOFI May 15th $18.00 call at $1.01. Last sale: $0.94.
Short 1 ONDS May 8th $10.50 call at $0.60. Last sale: $0.52.
Cash: $2,507.34
Portfolio Value: $10,747.34, +7.5% from inception.
Related: Software Stock Investors Are Discouraged
At the time of publication, Guilfoyle was long SOFI, OCUL, ONDS, PLTR, RKLB, INFQ, SIDU and EVLV; and short SOFI and ONDS calls.
