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For Nvidia, even I'm stunned by the YTD run up, 113% at the time of this writing. I first bought in May 2021 at $144.54/sh. I sold 50% of my shares yesterday at $307.95/sh. My remaining position is roughly equal to my initial investment and I'm now playing with house money. No plans to sell these shares and if recent history repeats itself and Nvidia has a significant drop, I'll re-add shares.
As for Upstart, it had become one of my top 5 positions by total cost basis, which even I was slightly uncomfortable with. I had recently added shares in March at $13.20/sh. After watching this rally (short squeeze?) over the past two weeks, a jump of 86%, I decided to bring my cost basis down a bit by selling those March shares at $27.67/sh. By total cost basis, it's now my 14th largest position instead of 5th. That makes me more comfortable. I'm still deep in the hole on Upstart but I remain a believer in their AI.
The cash in my IRA portfolio has now grown to nearly 8%, an abnormally high number. It's my 2nd largest position in that portfolio. I plan to be opportunistic in adding to existing positions. I currently have no plans to open any new positions although I continue to watch ~a dozen companies, including $AXON, $CFLT, $HYPR, $TTD, and $ZYXI.
Was selling half of my Nvidia shares at $307/sh ($765B MC) smart or stupid?
78%Smart!
21%Stupid!
14 VotesPoll ended on: 5/25/2023
I think it's pretty smart to lock in gains on Nvidia here. Although I definitely have some '100 bagger' whispers in the back of my head regarding holding long term. Still, the valuation seems nuts.
@nathanworden well, I did buy when it was ~$354B MC so 100 bag from there, it’d have to hit ~$35.4T MC lol I’m not too worried I sold out on a 100 bagger with Nvidia.
Probably smart because I did the opposite and usually I do the stupid thing. I held my calls that were already up ~100% and it looks like they may have just printed on earnings so... even a blind squirrel etc etc 🤷🏼♂️
This aged poorly. I feel like this is usually how I trade. Glad you still hold half your position
@rpinvestments Oh, nah, this aged incredibly. I still have my normal position size. I'm stoked that I have extra cash and stoked that I still have a normal position in NVDA.
@rpinvestments There've been plenty of times I sold and made out like a bandit (Fitbit comes to mind where I bought in June 2015 and sold 32 days later at a price that was near their all-time high for a 53% profit). The ups and downs will even out over the decades and I have trained myself pretty well in recent years to not overreact to short-term moves.
I sold about 15% of my position before the Big Bang as I was concerned with valuation going into earnings. As you I locked gains today redeploy in other opportunities. All good!!
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