Wednesday, October 3, 2018
[Charts updated on October 8!]
Having recently sold out of a significant position, I am beginning the search for interesting ideas. The following companies were added to my portfolio today. Given my broadly negative view on the market, I am just nibbling these companies.
ASUR – Asure Software – I am not clear what news has brought this company down from recent highs in the $19 area to $12 now, but the balance sheet appears in line.
CRSP – CRISPR Therapeutics – This company took a hit earlier this month after announcing a secondary offering. This is a very fast growing area of biotech, and the company looks to have a strong balance sheet, although modest revenue.
DSKE – Daseke – This is a transportation company focused on flatbed and highly specialized freight in North America. The fact that the shares are down about 40% on the year makes this an uncomfortable investment, but with a booming economy and a likely increase in energy prices, it could move higher soon.
REI – Ring Energy – This is an oil driller (E&P) operating in Texas and the balance sheet looks to be in good shape. There has been some concern regarding their drilling based on the news, but they appear to have financial flexibility to figure things out.
RMBS – Rambus – This maker of memory chips is down sharply from $14 earlier in the year. A recent report suggesting memory prices were about to crash is likely the reason for the decline, but, thinking long term, memory is still going to be needed for computers and devices. I don’t know if RMBS is the best company to buy, but it has a long and storied history and the shares have moved between $10 and $15 consistently for the past 4+ years.