This post was just published on ZYX Buy Change Alert.
Dropbox (DBX) is long from $21. It is trading at $32.50 as of this writing.
DBX provides cloud storage. One of its big clients is Facebook (FB). There are rumors that FB is planning to move to Google (GOOG) (GOOGL). If true this will be negative for DBX.
35% of full core position size is being held. Partial profits have been taken on the remaining. Consider taking profits on a 15% tranche right here.
Consider holding the remaining 20% with stops previously given.
Full disclosure: This has been a long term position and the plan to hold the remaining is in the context of a long term position. ZYX Short has just taken a short term trade, not a long term position in DBX.
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