Thursday, November 22, 2012

Back in Nexen Again / Teavana?

I added back to the Nexen, Inc. (Ticker: NXY) position that I sold on Monday. I picked up shares in Nexen at an average price of $25.31. I’m still looking to add, but will wait for an opportunistic moment.

I also took a stab at Teavana Holdings, Inc. (Ticker: TEA) on Tuesday when a hit piece was published by a short seller claiming high amounts of pesticide in their tea. I picked up some shares at $14.88 and subsequently sold on the same day at $14.93. I only made some lunch money on this trade. I’ll be keeping a close eye on Teavana as I believe the deal with Starbucks will eventually close. I want the dust to settle a bit before committing any serious money in Teavana as an arb trade.


At November 23, 2012, Anonymous Anonymous said...

TEA will close - the timing/circumstances of the report are complete BS (some short clearly got caught the wrong way on the M&A deal)

There seems to be a developing cottage industry trying to shake out weak hands in M&A arb trades...

At November 23, 2012, Blogger Money Turtle said...

I totally agree. There's a high probability that Starbucks will close the deal with Teavana. A good risk / reward opportunity assuming a close by the end of December.


Post a Comment

<< Home