Well, it looks like we jumped off Tesla just in time. We sold at $194 on Monday. It turned out to be perfect timing as the stock has plunged to the low 170's the last few days. Our decision was more a matter of instinct than anything else. We knew the stock would get hit at 200 bucks and we just cashed out a little early to avoid the rush. Good thing we didn't get greedy!
Our Groupon trade was looking so good this morning that we plowed our Tesla profit into maxing out our position. They hired some great talent from Amazon and other tech marketing and operations types. We loved this news so much we thought about bringing in some reserve capital and margin the hilt out of it on buying more. We did max out the current accounts and decided to not get too crazy. Good thing! The stock faded to $11.30 at the close and our basis is about 55 cents higher. We are going to attribute it to the general market weakness and political bickering. The company specific news on a fundamental and strategic basis is just fantastic. These new guys and gals they picked up are heavy hitters. We continue to believe the shares are worth 16 bucks by the end of the year. We may have to trade around our position if the market continues to weaken because of the size we have acquired. Let's hope not.
Stockspeare
