TRADE INSTRUCTIONS

Date: September 28, 2018
Name: Despegar.com
Symbol: DESP (NYSE)
Type: Close
Limit: Sell at market

TRADE RATIONALE

I extended our holding period for South American online travel company Despegar.com (NYSE: DESP) two months ago believing that the company’s Q2 results would push the stock higher. Despegar did release decent quarterly results six weeks ago, but they were not strong enough to offset deteriorating economic conditions in Brazil and Argentina. As much as I dislike taking a sizable loss in a holding, at this point I can’t justify tying up capital in this trade any longer so I’m closing it out.