Nova (NVMI) Moves to Sell Half
We jumped into Nova (NVMI) with a half-sized position on July 17 when the stock was selling off, and shares fell all the way down to 158 when the market got crazy just a couple of weeks later. I decided to keep at buy through the earnings report thinking the selloff was overdone, and that was the right move (thankfully). Shares shot higher and are now modestly above where we jumped in. This wild ride is another reminder of just how volatile semiconductor stocks can be. Now, with NVMI approaching overhead resistance and feeling a little like we “got away with one” I’m moving to sell. We may come back to the name later, but right now I’m happy to move on with a modest gain of around 4% on our half position. SELL
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