99 Cents Only Stores = Done Deal
It looks like the New York Post got another one right… They were on the money with the BJ’s Wholesale Club call. Today, 99 Cents Only Stores (Ticker: NDN) agreed to a buyout from Ares Management and the Schiffer-Gold family for $22 in cash. I sold my holdings in 99 Cents Only Stores today at $21.38 generating an 8.19% (491% annualized) return over a 6 day period.
I took a stab at Harbin Electric, Inc. (Ticker: HRBN) today at $21.07. I’ve been trading in and out of this one for the past month. The shorts are all over it, but everything appears to be going as planned for the management buyout for $24 in cash. I try to avoid all of the noise out there from the shorts and just focus on the SEC filings. I believe that there’s a good chance that this one will close.
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