Friday, April 30, 2010

Sold Hotung for a quick profit!

We bought Hotung at US$0.11 on 5 March. On the strength of liquidity provided by the company's share buybacks, the stock rose to a recent high of US$0.135, and we were able to sell our 15,000 shares at US$0.13 on 30 April for a quick profit. Admitedly, the US dollar has weakened against the SGD on the back of MAS monetary policy tightening, but the stock also went ex-dividend (approximately US$0.0076 per share) on 29 April, which means we are collecting a further $150 in dividends.

No comments:

Post a Comment