Cleaning out the IRA   11 comments

Both Organovo Holdings, Inc. (ONVO) and Sirius XM Holdings Inc. (SIRI) have been disappointments since I purchased them, even when the market was more bullish than now.

While I plan to keep ONVO on my watchlist, it could drop back into penny range before this is all over.

As for SIRI, there’s no real incentive for Liberty Media to pursue this purchase any more, which leaves Sirius at the mercy of the markets. Personally, I don’t like it as a LONG-term play.

The final line for both stocks below:

ONVO: -0.06 today, -1.60 overall to $8.55 (-0.70% today, -15.76% overall)–bought at $10.15
SIRI: -0.02 today, -0.26 overall to $3.41 (-0.58% today, -7.08% overall)–bought at $3.67

Fortunately, both positions were small.

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Posted March 12, 2014 by edmcgon in Portfolio Moves

11 responses to “Cleaning out the IRA

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  1. I completely agree with you on SIRI and I ditched my shares this am for 3.39 as well. Small loss

  2. Ed,

    Not sure why you bailed so quickly on ONVO. As you’ve experienced before holdings like that are volatile, and can take some time to see significant moves up at this stage. As for SIRI with a buyout offer on the table still I think I’d have waited a little longer too. Additionally the company throws off a good amount of cash from operations, and has some serious backing by big investors. Seems to me it has much better prospects over the next year.

    • mdistas, you are probably right about SIRI but their management kind of sucks and there is a good possibility that Liberty Mutual (whose management does not suck) will eat SIRI’s breakfast. Are there any competitive bidders? for SIRI?

    • mdistas,
      As I see it, ONVO could take years before significant progress is made. In that time, I should be able to get it closer to $1/share, maybe lower.

    • Jeff,

      None that I know of, but I do believe the odds are favorable that eventually LIberty will take control of the company. Doesn’t neccessarily need to be another bidder.

      Ed,

      I just dont see why you didn’t think of that before your initial purchase. If I’m looking to buy certain stocks for the long haul I wait til I see the big money come into it and push it higher. There will still be plenty of money to be made in that scenario. Even if I have to pay more I sleep easier at night knowing someone in charge of millions of dollars is putting money to work in the same stock. A stock I do this with is AMRS that I mentioned here before a few times awhile back. I’ve been holding the stock for over 18 months, but I did not add until I saw the big money coming into the stock. Even though its down from where I made my second purchase I can be more assured the downside is being limited somewhat, and always keep my eyes on the technicals for sell signals. Still a speculative company, but you have to play the game with these companies the way the big money does. Now even though I bought PM this morning I do not need to see that type of conviction. I’m buying strictly for the dividend in a well established company I determined was a fair price. Not as much risk overall.

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