Ok, so not my first week trading, but my first week where I was sharing my picks on instagram for people to (possibly) follow!
So, yeah, I decided that in order to hold myself more accountable for the trades I make I would start to upload my ‘picks’ to instagram. This, I thought, would not only make me think and analyse picks in greater detail, but would also be a fun experiment to see wether I could actually provide useful insights to people. Obviously I guess I should say I am not a professional, and this isn’t financial advice!
Below are the picks that I have closed in the previous week, why I chose them and the returns I achieved. Then we will have a quick look at my wider portfolio (I don’t post every trade online!):
Castor Maritime | 61.28% Return
This stock was chosen due to analysis showing that the stock was vastly undervalued. With solid 18% profit margins and valuation at less than a fifth of their annual earning it seemed like a diamond in the rough. Obviously investing in a simple ‘shipping’ business while in the coronavirus epidemic carries a certain amount of risk, especially with the reduction in trade associated.
Exited this holding to free up capital to invest in a dividend pie!
Healthier Choices Management Company | 131.58% Return
Meme stock, there was a lot of hype around this stock and the fact that the company was expected to win its court case. I don’t usually like to get involved in these ‘reddit’ stocks, so only held a small holding, but had enough confidence that the amount of press surrounding this penny stock would see it have a bull run at some point. As soon as I had reached a 100% return it was time to analyse where would be a good selling point!
Sundial Growers | 104.96% Return
Cannabis stock is (or was) hot property after Joe Biden’s inauguration and the growing legalisation sentiment in the USA. Combined with the company reducing its debt pile, and increasing their product portfolio the stock seemed undervalued and a solid long-term buy. Sold for 100% return as ignoring the exposure this stock/industry was getting I stuck with the game-plan and exited the trade when price had doubled.
I have recently decided to invest in this ‘pie’ available on Trading212, and will write an article detailing my experiences and returns associated with the experiment in the near future.
Overall as of the 12th February my Portfolio looked like the below image, where I have only calculated returns on closed positions as others would be speculative!
Let me know what you think of my progress and portfolio so far!