A fellow board member kindly alerted me to a post on another board which, believe it or not, accused me of manipulating the stocks when I gave you a second update yesterday telling you that I had reduced my Alteryx to a 12.5% position, that I had taken a 4.8% in Livingo. He said that was why Alteryx was down 5% at the time he was writing, and that was why Livingo was way up at the time, and that I had manipulated the market to cause that. (He actually used the term “market manipulation”).
That poster, who knows who he is, was either affected by Magical Thinking, or is a total and complete fool.
First of all, he wasn’t thinking. Why the hell would I be manipulating my remaining large 12.5% position in Alteryx to go down? Does that make any sense at all? (Did he think it was in order to have my little 4.8% position in Livingo to go up?) Absolutely no thought on his part, just accusation.
Second, Alteryx has an $8,000,000,000 market cap. That’s 8 billion dollars! Does he really think that anything I say can manipulate an $8 billion stock to drop 5%, even if I had wanted to, which was ridiculous in itself, considering that it was a large position of mine?
Third, Alteryx traded a volume today of 2,340,000 shares at a closing price of $122.28 per share. That comes to $286 million dollars traded!!! And this was pretty normal volume for the company. Can he really have believed that my little comments of having reduced my position could really have moved $286 million dollars of trading?
Fourth. And Livingo, which he could perhaps have thought was small enough to be manipulated, ended up DOWN fifty cents today, after he accused me of pushing it up by saying I took a position. What total nonsense!!!
That’s why I usually don’t post updates of what I am doing during the week, because I don’t want people following my trades, but this time I thought I really should tell you all what I did because several times recently I had been vociferous in pointing out that there was no way Alteryx’s revenue growth would only be up 10% in this quarter (as someone was presenting as a given). In light of that I thought it would then be dishonest to not tell the board I had reduced my position. The reason being that while I saw their revenue being up 25%, not 10%, I was shifting part of my funds into companies whose revenue would be up two or three times that (at least). I made that perfectly clear in my second update.
Best to you all,