Bye Bye SciPlay (SCPL)
As we head into the weekend and prepare to add another round of stocks to our portfolio next week I’m looking at areas where we can lighten up. As you know by now I don’t like to let stocks go until they’ve had a chance to prove their mettle, but with 25 stocks in our current portfolio there’s plenty of room to trim a little around the edges.
Today we’re letting go of SciPlay (SCPL). There’s nothing wrong with the company or the story. But there’s nothing particularly exciting about it right now either. The overwhelming reaction I get from looking at the chart is a hearty “meh” given that shares are 21% off their high, are trading below where they were heading into the recent earnings report, and quickly gave up all of their post-earnings strength.
I’ll keep SciPlay on my watch list and we’ll come back to it if and when it looks more compelling. For now, it’s moved to sell. SELL