Well I was patient through the ups and downs, but looking at all the opinions over the last month or so I decided to sell out today at 104.
Taking into account Sauls analysis, and many others, along with Bert’s recent thoughts, it seems to me that MDB is a great company that right now has a very rich valuation and might have limited upside shorter term. In other words the bar is really high right now, so I just don’t see any upside surprise coming into earnings.
For me, I’m invested in The stocks on this board for their hyper growth and with that growth the chance for great market beating returns. What changed for me today was reading a bullish analyst report that came out this morning challenging the more recent bearish report about Lyft.
Yes this new report was bullish, but when I scrolled down to the analysts raised and bullish price target, it wasn’t bullish at all. 109, which is only 5 bucks north of where I just sold. It seems to me that the upside over the next few months or so just isn’t there. So for me it confirmed what some other respected folks on this board feel right now. Great company, overvalued stock price.
So the choice was to hit the sell button in my tax free account and revisit MDB if the valuation comes down. Lock in the amazing profits YTD and move on.
Chris