Recent Sell – Hive Blockchain Technologies

A quick update on a sale in my portfolio.

Last month, I opened a new position in a little known company that has seen a tremendous interest in investors and seen massive gains. The company in question is Hive Blockchain Technologies (HIVE.V). I indicated in my purchase post that I broke all my rules and took a gamble with this investment. It’s a company that I did not know much about and the financials were also a bit murky when it IPO’d — still it was a play on investor psychology and momentum and I decided to take a gamble. I knew there was a dearth of blockchain related companies in the capital markets and the risk/reward scenario was good enough for me to take the risk. That risk paid off as I witnessed a 200+% return in just over a month.

After seeing over 3x returns, I decided to sell half my position. Earlier this week, I sold 500 shares @ C$3.38, netting a 213% return in just over a month. Whether this was a good decision or not, time will tell. Atleast, I have taken all of my risk out of this investment as I free-carry the rest of my position.

Profit on 500 shares: 213%

Holding Period: 1 month

Remaining 500 shares: Free-carried (adjusted cost basis of $0.00)

Full Disclosure: Long HIVE.V. Our full list of holdings is available here.

10 thoughts on “Recent Sell – Hive Blockchain Technologies

  1. Congrats on your ROI. I admire your risk taking. I tend to be a conservative dividend growth investor with a large allocation to fixed income. For better or worse, I never capitalize on opportunities like this. Look forward to see what happens with your remaining position. Tom

  2. R2R, I feel a little risk-taking is fine, as long as it’s a small percentage of your portfolio. For such a position, I would have done the same as you, selling half once I had doubled my money. Now that you’ve secured your original investment, you can comfortably let the other shares ride, and see where it goes.

    • Yup. It was a miniscule portion of my portfolio and Im glad to have taken half off after a 3x return and got my original capital back and then some, while still holding some interest in the company. Lets see where it ends up in the coming years.

      R2R

  3. Nothing wrong with some risk taking as long as you understand that risk on the front end are prepared for a 200% gain or a substantial loss. While its not the move I would have made, I”m glad to see that your risk paid off this time.

    Bert

  4. Sorry to see that you sold. I took your advice and bought 1,000 shares last month. It’s been a hot stock, up another $1,000 for me today. I’ll likely sell soon, but I’m waiting for the upcoming Bitcoin Hard Fork first. I suspect that this stock will ride that way and keep going up until then.

    • I only sold half (thankfully) ๐Ÿ™‚
      I am letting the other half free-ride to see where it goes. Its up 6x right now from my original purchase price! Crazy momentum on this one.

      R2R

  5. That’s awesome. Out of curiosity, which brokerage did you use to purchase HIVE? The fact that you’ve gotten your original investment back and still sitting on shares means that your investment is risk free. Sometimes it’s good to take risks, as long as you’re completely fine with all possible outcomes.

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