Shortly after the session opens, we will sell 18 shares of Meta Platforms at about $542.3 and 20 shares of Palo Alto Networks at about $343. After the trades, Jim Cramer’s Charitable Trust will own 275 shares of META, reducing its weighting from 4.7% to 4.45%; and 230 shares of PANW, reducing its weighting from 2.5% to 2.35%. We start the week with a few small cuts to lock in big gains. Both of these tech companies have suffered from earnings-related selling this year, but we fought them and held on and now both stocks have bounced back the other way. Meta Platform shares fell from about $493 to $441, down about 10%, after reporting its first-quarter results in April. We upgraded our rating to a 1 immediately after the results and viewed the pullback on AI spending concerns as an opportunity. Since then, the stock has continued to climb, surging nearly 6% last Friday to surpass its previous all-time high and our $525 price target. We expect to revise our price target in the coming days, but because of the uptick, we are lowering our rating to a 2 and locking in a massive ~150% gain on shares purchased in April 2022. Similarly, cybersecurity leader Palo Alto Networks is no stranger to wild stock swings on earnings. In February, the stock fell nearly 30% after the company said it would aggressively push its platform strategy at the expense of near-term billings and revenue growth. In May, the stock fell again on what initially appeared to be a billing failure but later turned out to be a beat after a miscalculation. Today, shares are trading at their highest level since the February sell-off and are 8% above our last sell-off in June. Given this move, we are locking in profits and realizing a gain of about 94% on shares purchased in February 2023. (Jim Cramer’s Charitable Trust is long META and PANW. See here for a full list of stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim executes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable fund’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 INFORMATION ABOUT THE INVESTMENT CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, AS WELL AS OUR DISCLAIMER. NO FIDUCIARY OBLIGATION EXISTS OR IS CREATED BY REASON OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
