I picked up 260 shares of Tesla Motors (TSLA) last week, right before earnings. The stock has been on a tear since, and I decided to use today to take some profits. I’m not much of a gambler, and my preference for investing long-term is to invest, not trade. I’m a Dividend Growth Investor at heart, so I already know that TSLA doesn’t fit into my overall gameplan.
With that said, I took a gamble on TSLA, and it paid off. I originally purchased at $55/share, and offloaded 160 shares today at $87/share. Without accounting for commission, fees, and taxes, this is $5120 in gains. Basically, I cashed out so that I could get back most of the principal, and am now playing with mostly just the profits.
I plan on holding the remaining shares since I feel like Tesla is a long-term growth story. I’ll probably add more shares on dips, but at this time, I would like to re-focus on building back up my dividend growth portfolio. Also, I am working on saving up capital for Rental Property #3. I’ll admit, investing in a stock like TSLA is extremely exciting. I’m sure it’ll take me on a rollercoaster ride as well, though, so I have to remember not to get too distracted! Stick with the plan… this is just for side hustling. 🙂