|Day Low/High||3.92 / 4.05|
|52 Wk Low/High||3.70 / 9.45|
We added a position in Fitbit, scaled deeper into AcelRx Pharmaceuticals and improved our cost basis in Pitney Bowes.
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While the portfolio is down year-to-date, on a relative basis we are well ahead of our benchmark in one of the most challenging market environments in years.
Despite disappointing performance this year, the strategy has shown solid return in the past.
We're using pronounced price declines in GNC Holdings and AXT Inc. to lower our average cost basis in both companies, which we believe still hold promise.
Despite steep declines in the broader market last week, the portfolio had several winners and was helped by our large cash position.
Verizon's announcement of a 5G network that smartphone users will be able to tap into in the first half of 2019 should boost the prospects of AXT and Nokia.
We added to two positions last week, as positive action in the market led the Russell 2000 to climb.
The bottom line is we will remain hopeful for forward progress but realize it will take some time until a deal is hammered out.
GNC and AXT Inc. are in the midst of big changes, and we are growing our positions to take advantage and drive down our cost basis.
Despite swimming against the recent tide with small-cap stocks, we have several positions that are more than holding their own.
We saw a number of our positions rebound along with the market last week.
AXT reported September-quarter results that bested expectations on the top and bottom line, yet the shares are down almost 20% today.
It beat expectations in the third quarter and raised guidance in the current quarter; we also take a look at AXT Inc.
Amid volatile market activity, we added to four positions last week.
Comments on earnings calls set up what should be positive September-quarter earnings for Nokia and AXT.
The majority of our positions outperformed our benchmark during a challenging week for the stock market.
MicroVision potentially has three scanning engines to support a wide array of applications.
We will revisit the shares and their place in the portfolio in the near-term despite what we see as favorable developments over the medium to longer-term.
We could be in for a bumpy ride as companies and analysts reset their growth and profit expectations for the December quarter and 2019.
We initiated a new position and added to a newer name during a mixed week for the portfolio.
We are using recent declines in AXT, Inc., Del Frisco's Restaurant Group and GSV Capital to nibble further on each position.
Last week was a frenetic one for the portfolio as we scaled into one name, added another to the fold, and booked some hefty profits in a cannabis stock.
Last week we re-initiated a position in Aurora Cannabis, exited USA Technologies and added to our holdings in Del Frisco's Restaurant Group.
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