Sell Elastic (ESTC) and Pinterest (PINS)
Shares of Elastic (ESTC) continue to struggle in the weeks after reporting earnings. We sold part of our position on March 5 for a 30% gain, and we’ll sell the rest today for a roughly 22% gain. SELL REMAINING SHARES
We’re also going to step back from Pinterest (PINS) today. While the company is making progress growing margins, increasing engagement and working on new ad products (some with AI), the bottom line is the stock isn’t behaving and other online advertising platforms (META, YouTube, Instagram, TikTok) are doing much better. Granted, PINS is a more specialized solution but still, I’m not anxious to hold on to a struggling stock with a self-help story right now when there are so many other options. SELL
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