I sold my 25 shares of Tesla Motors Inc (NASDAQ:TSLA) today at a price of $239.2399 each. I purchased them for $181 each back in May. After fees I netted a profit of 31.7%.
I turned around and sunk that money into LeapFrog Enterprises, Inc.(NYSE:LF). I bought 968 shares at $6.3099 each.
I'm a parent now, and we own a few of the items manufactured and sold by LeapFrog. I'm generally impressed by their quality.
Leapfrog announced quarterly results at 5PM on Monday the 4th. They weren't good.
Leapfrog has millions in the bank, though, and so they'll be able to weather this through Christmas. I'm betting that the coming year will be a good one for Leapfrog.
I'm also betting that today's plummet was an over-reaction. The stock will have at least a dead-cat-bounce tomorrow. I'll be tempted to sell. But I'm planning to hold the stock until the market agrees with me that Leapfrog is going to have a good Christmas. I don't expect that to happen tomorrow.
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