Sells: Airgain for 37% Gain; Covisint for 9.9% Gain
Shares of Airgain (NSDQ: AIRG) hit their $16 sell stop last week and we are closing out this position. We held the stock for two months and took profits on one half of the position after the shares exploded up in response to a better than expected earnings report in November. Since then the shares have steadily dropped and are not showing signs of improvement so it’s time to close out the entire position with a sizeable two month gain or 37%. Not bad for a sixty days of work.
Also, we added Covisint (NSDQ: COVS) to our portfolio in April to play the smart car market. Covisint’s products essentially tie all the data from the array of sensors in cars into a single platform. That allows for things such as better fleet management and maintenance scheduling, and keeping your keyless start function secure. Considering that Covisint’s share price has been pretty much stuck since June, the last earnings report actually showed a wider-than-expected loss, and big money investors are getting out, the best thing for us to do is follow their example, but we’re booking a 9.9% gain.
You can read more about these and other BTP stocks in today’s Breakthrough Tech Weekly.
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