Wednesday, August 29, 2012

Sold Gushan Environmental Energy

I sold my position in Gushan Environmental Energy, Ltd. (Ticker: GU) today at $1.53 generating a net gain of 2% over a 14 day period (~ 51% annualized return). This company is in the process of being taken private for $1.57 ($1.63 minus the $0.05 ADR fee) and is scheduled to close by the end of September. I closed out my position because I just didn’t feel comfortable holding through the closing. There is a shareholder vote pending and there is a small probability that shareholders might vote down this merger. Lot’s of angry shareholders in this stock, who paid much higher prices. This was a relatively small position as it made up ~ 5% of my portfolio.


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