Telecos are usually not considered growth stocks. The industry requires enormous upfront capital expenditure (eg: to set up 5G network) and shareholders get rewarded by a steady income stream from the investment. Over the last year, Vodafone has gone up faster than Singtel (though the US$ depreciation means the gap isn't as wide as the chart implies). Last night, I decided to start selling my Vodafone ADRs and some of my sell orders 'hit'. At the same time, I have re-initiated a position in ETHA averaging about $17.00 and started adding to JD
Obviously, the timing is bad as ETHA closed at $16.34 last night, but I am preparing to average down a bit and sell more Vodafone to fund this.
No comments:
Post a Comment