I have two trades for you to make today…
First, I recommended Glu Mobile Inc. (GLUU) 12 months ago in last year’s October issue.
GLUU develops, publishes and markets mobile gaming apps. Its portfolio includes action, casual, family, strategy, sports and celebrity-themed games. The company has thrived in the mobile gaming hit-driven business. And its stock price skyrocketed over 100% in the last year. In turn, I adjusted its 35% hard stop to a 15% trailing stop last week (protecting a substantial portion of our big profits).
Yesterday’s close triggered that 15% trailing stop. I’m happy to close out this position with a nearly 85% gain.
And second, I wrote about Momo Inc. (MOMO) two months ago in August’s issue.
MOMO, known as the “Chinese Tinder,” is one of China’s leading, mobile-based, social-networking and entertainment platforms. This stock was another mobile and digital market play. Except, this recommendation was a direct bet on China’s massive consumer base getting increasing access to the internet, online shopping and smartphones.
While the China growth story is alive and well, MOMO has experienced recent selling pressure mainly due to unsatisfactory live video results and increased expenses.
With the stock only fractionally away from our 35% hard stop, I’m removing the position from our portfolio at an approximate 34% loss.
Actions to take:
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Best,
Grant Wasylik