Sell Magnite (MGNI)
As we head into the final weeks before the U.S. presidential election, most of our positions are doing very well, with standout performances from FTAI Aviation (FTAI) and SharkNinja (SN) leading our portfolio higher, and improved momentum from newer additions Modine (MOD) and Klaviyo (KVYO) helping to round out our group of outperformers.
Currently, UL Solutions (ULS), Microsoft (MSFT) and Loar Holdings (LOAR) are looking pretty “meh,” but are trading right on key moving average lines that typically represent good entry points. All three stocks are currently rated “buy.”
We do have a real dog in Rivian (RIVN); however, those who are fans of the company and product are likely happy enough to hold on since, longer-term, Rivian is likely to emerge as one of the leading, pure-play EV car manufacturers out there. Clearly, patience will be required.
Last but not least, we have Magnite (MGNI), which is stuck in a yucky pop-and-drop cycle devoid of any momentum. These types of positions are discouraging to own, and I see plenty of other opportunities I like more right now. So we’re going to let MGNI go today. SELL
Copyright © 2024. All rights reserved. Copying or electronic transmission of this information without permission is a violation of copyright law. For the protection of our subscribers, copyright violations will result in immediate termination of all subscriptions without refund. Disclosures: Cabot Wealth Network exists to serve you, our readers. We derive 100% of our revenue, or close to it, from selling subscriptions to our publications. Neither Cabot Wealth Network nor our employees are compensated in any way by the companies whose stocks we recommend or providers of associated financial services. Employees of Cabot Wealth Network may own some of the stocks recommended by our advisory services. Disclaimer: Sources of information are believed to be reliable but they are not guaranteed to be complete or error-free. Recommendations, opinions or suggestions are given with the understanding that subscribers acting on information assume all risks involved. Buy/Sell Recommendations: are made in regular issues, updates, or alerts by email and on the private subscriber website. Subscribers agree to adhere to all terms and conditions which can be found on CabotWealth.com and are subject to change. Violations will result in termination of all subscriptions without refund in addition to any civil and criminal penalties available under the law.
