Looking to Add or Initiate on 5 Names for the Small-Cap Portfolio
As the stocks face pressure on Monday morning, here's my plan.
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Several $10K Portfolio names are in the news on Monday morning. Here's the rundown:
Ondas Inc (ONDS)
On Monday morning, (ONDS) announced that its 4M Defense subsidiary had received an incremental $10 million order related to the $1.7 billion Eastern Border Security Barrier initiative led by the Israeli Ministry of Defense.
This is part of the Israeli government's recently announced $50 million de-mining program. The award expands Ondas' ongoing de-mining operations. The contract is part of a broader effort by the Israel Ministry of Defense to clear large-scale areas in support of the development of new infrastructure building along Israel's eastern border.
Rocket Lab (RKLB)
On Monday morning, Stifel Nicolaus analyst Erik Rasmussen reiterated his "buy" rating on (RKLB) , while increasing his target price from $90 to $105. Rasmussen is rated at five stars out of five by TipRanks, has a 75% success rate over two years with an average return of 91%.
Sidus Space (SIDU)
The shares of portfolio holding Sidus Space (SIDU) are trading sharply lower after the firm announced the pricing of a direct offering of roughly 13.454 million shares at $4.35 a piece. Proceeds are expected to amount to $58.5 million before placement fees and expenses. The offering, which is dilutive to the equity, will close on Tuesday, April 21.
Friday's Intention vs Friday's Actual Trade
Intention:
-Sell one (PL) June 19 $34 put for about $4.50
-Buy one PL June 19 $28 put for roughly $2.10
...for a net credit of $2.40
Actual Trade:
I was unable to get either leg of this spread executed effectively or at an acceptable price. I suspect several readers probably ran into the same situation as these options series are illiquid in nature. I will instead try to add PL to the portfolio as an equity, at a discount given the two day sell-off now under way.
Monday's Intention
Several $10K Portfolio stocks are under pressure on Monday morning. We're going to add to or initiate (in the case of PL) on this weakness.
-Purchase 10 shares of PL at or close to the last sale of $37.85 to initiate this position
-Purchase 25 shares of SIDU at or close to the last sale of $4.44 to make a long position of 100 shares
-Purchase 25 shares of (SNAP) at or close to the last sale of $5.92 to make a long position of 75 shares
-Purchase 10 shares of (INFQ) at or close to the last sale of $16.44 to make a long position of 35 shares.
-Purchase 25 shares of (OCUL) at or close to the last sale of $9.53 to make a long position of 150 shares
Current Positions
Long 150 shares of (SOFI) at $15.988. Last sale: $19.31.
Long 125 shares of OCUL at $8.061. Last sale: $9.53.
Long 125 shares of ONDS at $9.4749. Last sale: $10.99.
Long 10 shares of (PLTR) at $145.03. Last sale: $144.71.
Long 15 shares of RKLB at $67.1653. Last sale: $88.40.
Long 25 shares of INFQ at $9.965. Last sale $16.44.
Long 75 shares of SIDU at $2.029. Last sale: $4.44.
Long 50 shares of (EVLV) at $6.0898. Last sale: $6.37.
Long 50 shares of SNAP at $6.03. Last sale: $5.92.
Long 50 shares of (VEL) at $10.93. Last sale: $11.75.
Cash: $1,436.32
Portfolio Value: $11,640.42, +16.4% from inception on March 24.
Related: How Much Upside Can Remain for a Market That's Afraid to Sell?
At the time of publication, Guilfoyle was long SOFI, OCUL, ONDS, PLTR, RKLB, INFQ, SIDU, EVLV, SNAP and VEL.
