It has been a sloppy day for many of our stocks, PLTR and TSLA among them. It happens. Yet both of those stocks are way higher than our entries, so the sting is muted. Which brings me to the concept of longer term investing when days like today are kept in perspective. It's a good day to introduce JMIA to the Buy & Hold portfolio. We have been trading it in the PRO portfolio and the recent Buy in the Dec $25C has been up over 500% on a move of about 60%. Today the stock fell all the way close to where the PRO Service first bought the calls, but has rallied back strongly intraday, up about 25% in just a few hours. Think about that. The stock was up 60% in two weeks, fell all the away back and is up 25% from the intraday low. There is a lot of buying power behind these shares, something that reminds me of an electric car company we bought about a year ago. It ran-up from our $350 entry in December, up 200% by mid-February, then in less than a month fell back all the way back down to about where we first bought it, and has subsequently run up over 700%. As with TSLA, there was (and is) a lot of buying power behind JMIA shares. Fundamentally, Jumia called the "Amazon of Africa," and I'll have more to say about it in a future Weekend Update. I was waiting until then add it for the longer-term, but today's outstanding price recovery (see chart below) suggests if I wait, it may be priced be a lot higher. In summary, our initial long-term investment ideas (in order): TSLA, PLTR, MSTR, GBTC and JMIA. There will be short-term trading opportunities in these names, but also compelling long term stories for all.
