I mentioned that I had placed Slack on my watch list after the stock was listed a few months ago. In the event early prices up to 39 or so looked a bit too high for comfort.
I followed the price down to 30 at the close of last week, then saw a couple of articles about institutional purchases by Yale and BP Pensions over the weekend.
So I bought 400 at 30.67 shortly after yesterday’s opening – this starts a holding – like Mongo DB not a big position as yet.
If you remember, Roku were about 103 at the end of July. During early August the upward momentum resumed. My shares are owned within two funds, and one fund has already reduced. So now it was the turn of my pension to reduce, as the valuation exceeded 10% of this fund. So I took a profit on 100 shares at 132.82 yesterday.
I was also looking to start a holding in Mongo DB, so I bought 100 of these at 142.83. Don’t actually know too much about Mongo’s software, but I’m told the stock is worth owning although averaging up or down will most likely be needed to put a holding together.
As regards Roku, this remains my largest holding – and I have been happy with the product too.
There has been market turmoil so far in August. As it is the holiday season the office juniors are in charge of the funds and markets. So do not be surprised- the stocks do not know that you own them.
Let me first tell you about my end month trades. Vodafone were down in the dumps but suddenly improved to just over 150p, so I sold my ISA holding at 151.29 p which gives a profit – put into ISA at circa 139p earlier this year. The improvement was put down to a merger of cell tower businesses in Italy and I am unsure about the effect of 5G on towers.
The other trade – in my ISA – was a purchase of Fundsmith Emerging Equities Trust (FEET.L) at 1195.25p. This is a small trust – market cap about £318m – standing at a discount to nav of approx 1300p. Not a great performer to date, but an internal change of management responsibility could be helpful.
Looking at month end prices, the main improvement came from the US stocks. BABA 173.11, NVDA 168.72, MSFT 136.27, SCHD 53.95, VIG 117.73, NOK 5.41 all up modestly and ROKU 103.33 up about 12%.
Despite the weakness in sterling to around 1.2120 today, UK stocks have had a much more difficult time. Improvements were seen in Smithson I T 1272p, Bango 124.5p, and Premier 84.04p. Prudential 1698p, Superdry 433.2p, and S4 155.5p were all down. Some stocks that I either used to own long ago or was thinking about before bad news came out have been very poor. Just look at the charts of Centrica and Metro Bank !
My watchlist includes SNAP 16.80 where my initial trade did well, and Slack (WORK) 33.42 while my cash position is about 20% on PA and 8% on Pension Fund.