Full and Partial Sells: BIRD, PFE, SWAV
Despite being a sloppy mess, the market has offered up some opportunities since May, when a lot of stocks might have put in a workable bottom. However, with the jury still out on that call and a still extremely uncertain environment, I’m taking a “bird in the hand is worth two in the bush” mentality with a few of our names while also looking to keep our portfolio from swelling to an unmanageable size.
In other words, we’re culling a few positions today.
First up is Allbirds (BIRD), which I added a half position of on May 18. We currently have a roughly 10% gain on the stock. This may well be a stupid sale as it could be up triple digits in a year. But, a bird in the hand … Let’s lock in the gain and keep an eye on BIRD for purchase again in the future. SELL
Pfizer (PFE) is also on the sell block. I added the stock in March, and it’s been up and down since then with the net result being selling today gives us a roughly 2% loss. Given the lack of any sustained trend over the last four months – despite what I still think is a lot of potential over the coming years – let’s walk away now and open up some space for a new position that’s acting better now. SELL
Shockwave Medical (SWAV) was added on March 16 and we’re up around 30% since. The stock is near 208 and is bumping up against resistance between here and 220. I like the story and the growth but also recognize that in this market a 30% gain in four months is pretty darn good. Let’s sell half to lock in a partial gain. SELL HALF, HOLD HALF