With geopolitical events giving a notable boost to markets today I have decided to make an exciting and hopefully shrewd adjustment to my Less than $10k to $1m challenge portfolio. I have sold the 561 shares of Intuitive Machines (LUNR) within the challenge and in doing so crystallised a gain that more than doubles my original investment.
My average purchase price for the LUNR challenge shares was $10.53 and I have just sold them for $23.32 each, making for a gain of over 121% in the nine months since I began accumulating LUNR shares. That’s well ahead of my aspiration of doubling my capital approximate every 12 months within the challenge. Anna and I still currently see Intuitive Machines as a great long term opportunity and as such retain over 2,500 shares in our wider portfolio, yet given the aspirations for rapid capital growth within the challenge a sale and reinvestment today seems like a sensible move.
The benefit of the sale is twofold. Firstly it crystallises the gains made and secondly it allows me to average down on our investment in Vertical Aerospace (EVTL). Having held onto 10,000 EVTL shares, largely out of wanting to support this promising aviation pioneer, more than doubling our shareholding to over 20,000 shares today reduces our average share price, from $4.35 to $3.41.
This seems like a good opportunity to do so following Vertical’s overwhelmingly positive news of late in terms of financing and successful piloted transition, and Vertical now appears in a far better position than only weeks ago. Vertical Aerospace’s shares are significantly undervalued and do not reflect the notably improved situation and future prospects and present an opportunity for rapid growth in my opinion.
A bold move yet hopefully one that will further accelerate the challenge as I hope to see EVTL rise notably over the coming months should full piloted transition be completed and the geopolitical background continue to improve.
May fortune favour the brave!
Mark aka Double Bubbler
