| symbol | transaction type | Number of shares traded | Recent price $ | Number of shares held after transaction | Portfolio percentage |
|---|---|---|---|---|---|
|
MRVL |
sell |
240 |
147 |
1,220 |
3.0 |
|
NFLX |
buy |
250 |
97.50 |
1,370 |
2.3 |
In response to recent developments, the Pro Portfolio executed a couple of trades:
— They sold 240 shares of Marvell (MRVL) at approximately $147 per share. After this sale, the MRVL holdings will account for about 3.0% of the total portfolio.
— Also, they bought 250 shares of Netflix (NFLX) at around $97.50. After the acquisition, NFLX will make up about 2.3% of their portfolio.
In other news, Alphabet (Google) is reportedly discussing a chip partnership with Marvell, which has driven MRVL stock prices up. This is encouraging, especially since we’re confident about the increasing demand for AI chips. However, this surge may put MRVL into an overbought situation, reminiscent of a recent rash of profits that saw a 135% uptick on Friday.
Our price target for MRVL is currently at $150, and it’s likely that other investors will reassess their targets in the near future. Yet, with the ongoing discussions between Google and Marvell, more concrete updates will be necessary, as seen with Meta and Broadcom last week before making further moves on MRVL.
We’re also planning to reinvest some of the significant profits gained to bolster our Netflix position, particularly following the recent dip in earnings. This strategy began taking shape during the Netflix post-earnings commentary, and today marks its implementation.
Caution seems prudent given the current overbought market conditions—it’s also true when we look at the technology sector through the lens of the Technology Select Sector SPDR Fund.
Regarding Netflix specifically, we’ve noted considerable support for its stock within the 50-day and 100-day moving averages of $91 to $92. If it dips to this range successfully, we might consider enhancing our position further.
(We are looking to make these trades around the prices mentioned. After the trades are completed, subscribers can check the execution prices here. It’s a good idea to adjust the graph and sort by purchase date.)
Other professional portfolios:
As of this publication, the Pro portfolio includes long-term investments in MRVL, GOOGL, META, AVGO, and NFLX.
