We're selling some shares of a parabolic mover, more than tripling our money
C
CNBC Finance
2 min read
We're selling 50 shares of Corning at roughly $267. Following Tuesday's trade, Jim Cramer's Charitable Trust will own 450 shares of GLW, decreasing its weighting in the portfolio to 3% from about 3.33%. We're selling more Corning into strength as shares of the glassmaker extend their recent parabolic run. Corning's optical fiber is a hot commodity in data centers, and it makes smartphone glass. The stock has now jumped another 20% since we sold 50 shares last week into what was then a 16% rally over a couple of days. Corning shares are now up more than 200% year to date, making it the 8 th best stock in the S & P 500. It hit another all-time intraday high Tuesday. GLW YTD mountain Corning YTD As the gains continue to build, the position has grown into a larger portion of the portfolio, prompting us to trim it back. Also, we are struggling to find a specific announcement that justifies this move over such a short period of time. We don't want to give these big gains back, so we're locking in profits. From this sale, we will realize a huge gain of about 210% (more than a triple) on stock purchased in October. (Jim Cramer's Charitable Trust is long GLW. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
