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Trade Alert: Trimming some 70% gains in PI into the hype

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Amazon's getting in the grocery business, buying our one-time holding, Whole Foods, WFM. The nearly $14 billion is only 2% of Amazon's market cap. And the market has so much faith in Jeff Bezos at this point that Amazon went up 3% itself today, making the purchase practically free. Nothing quite like spending $14 billion and instantly creating another $15 billion in valuation for yourself.

The Amazon for Whole Food acquisition also has our RFID play, which might become a real Amazon/Whole Foods supplier, up nearly 15% today and we're now up 70%ish on our position established back in October (see Trade Alert: The tiniest but biggest revolution ever? and Trade Alert: Nibbling more of this new name).

I'd mentioned last week I was likely to trim some Impinj to lock in some profits and I'm going to go ahead and do so today into the hype. I'm trimming about 20% of my Impinj PI stock.

Rock on.


This article was written by Cody Willard for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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