Let 'em ride: Several of 2023's best-performing stocks were grossly undervalued at the beginning of the year.
So while investors recognized the company could deliver massive earnings and free cash flow, they were afraid Zuckerberg had gone off the reservation.
The stock sports topline growth, substantial margins, a strong balance sheet, substantial free cash flow, and a moat around its business.
It's time to hedge some of those gains (or take profits): The second best-performing stock in the Russell 1000 for 2023 is Coinbase (COIN) .
If you own, but don't want to sell, consider purchasing the March $45/$35 put spread as a particle hedge, as illustrated below.
Persons:
David Ricardo, Ricardo, Mark Zuckerberg, Zuckerberg, doesn't, Russell, cryptocurrencies, aren't, Equifax
Organizations:
Russell, Vertiv, Builders, Topbuild Corp, Nvidia, Investors, MU, Walmart, Visa, Mastercard, Paypal, Experian, PayPal, Palantir Technologies, Government
Locations:
uptrends