Sell Remaining CRWD and S
We got into CrowdStrike (CRWD) back in 2019 almost near the stock’s lowest publicly traded price (below 50). Since then, we’ve cashed out three-quarters of our positions at very lofty levels. Today, we’re cutting our remaining stake loose. Despite the post-earnings drop, we’ll still make over 100%. The main issue here is that both smaller and larger customers are pushing out purchasing decisions and, should the macro environment remain iffy, they could delay further into 2023. Management appears to be appropriately conservative, but it’s a fluid situation. Bottom line is there’s too much uncertainty, even though CRWD has a relatively low valuation and posted 53% revenue growth in the latest quarter. We’ll likely come back to CRWD but are walking away from our remaining stake today. SELL LAST QUARTER
Similarly, we’re selling SentinelOne (S). The stock hasn’t gotten going and with sentiment toward CRWD falling, S is under pressure as well. As with CRWD, we’ll likely be back, but not until the trends improve. SELL
