May 2021 Performance
May was another down month for my portfolio, but I managed
to put some cash to work (cash holding now ~7% from ~9%). Airbnb had a nice decline
with the lockup expiration and correction in the technology stocks. I added to
my Airbnb position in the 130s and looking to add aggressively if it ever hits the
120s.
I’ve been keeping a close eye on Ginkgo Bioworks and am very
impressed with this company. I initiated a 2% position in Ginkgo Bioworks after
the SPAC merger announcement. I rarely invest in these unprofitable moon shot
investments, but I really like the founder’s vision. This company is the real
deal and the leader in the emerging synthetic bio space. I’m looking forward to
seeing how this one plays out over the years.
No merger arb / special situation plays in April. Still
continuing to sell way out of the money puts to generate some income.
2021 Performance = +1.46% with the running monthly returns as
follows:
January
-2.1%
February
+0.6%
March
+0.99%
April
+5.77%
May
-3.56%
posted by Money Turtle @ 4:30 PM
2 comments
2 Comments:
What is symbol of Gingo
The current SPAC ticker for Ginko Bioworks is:
SRNG
SRNGU = SRNG plus 1:5 warrants per unit
SRNGW = Warrants
Once the SPAC merger is approved, the ticker will change to DNA (the old Genentech ticker).
Can also arb the SPAC by electing to receive $10 per share instead of converting to the Ginko Bioworks shares at closing. SRNG currently trading around $9.87.
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