Mid-month portfolio update -
$ACTC $ADYEY $AFTPY $CCIV $CRWD $CURI $DKNG $DOCU $EH $FSRV $GHVI $IPOE $LOTZ* $MELI $OPEN $OZON $PINS $PLTR $PSAC* $ROKU $RTP $SE $SFTW $SKLZ $SNOW $TWLO #NQ_F
*beaten down rentals
Levered long, no hedges in place
$ACTC $ADYEY $AFTPY $CCIV $CRWD $CURI $DKNG $DOCU $EH $FSRV $GHVI $IPOE $LOTZ* $MELI $OPEN $OZON $PINS $PLTR $PSAC* $ROKU $RTP $SE $SFTW $SKLZ $SNOW $TWLO #NQ_F
*beaten down rentals
Levered long, no hedges in place
Thoughts -
Sold $SQ due to weak growth estimates/bitcoin exposure
Sold $SHOP due to 45X multiple, pre-COVID was 15-20X
Sold $STNE to add more to severely beaten down names
Sold $VRM after 8 months as tough biz/execution issues
Sold $ACIC and $AACQ to invest in $CCIV $EH $RTP
Sold $SQ due to weak growth estimates/bitcoin exposure
Sold $SHOP due to 45X multiple, pre-COVID was 15-20X
Sold $STNE to add more to severely beaten down names
Sold $VRM after 8 months as tough biz/execution issues
Sold $ACIC and $AACQ to invest in $CCIV $EH $RTP
I'd bought shares of $SHOP in spring '20 during COVID crash and over past year, the stock has quadrupled!
Its multiple is super-stretched now (pre-COVID was between 10-22X). Still love the business, after multiple has normalised, will probably re-invest.
Chart from @ycharts
Its multiple is super-stretched now (pre-COVID was between 10-22X). Still love the business, after multiple has normalised, will probably re-invest.
Chart from @ycharts
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