Wednesday, May 29, 2013

Zhongpin, Inc. Almost There...

It’s about time for Zhongpin, Inc (Ticker: HOGS). The company finally received approval from the SEC for its proxy statement. The shareholder meeting date is set for June 27th and the company is guiding for a Q2 closing. I see this as a good risk reward play now. Just need the shareholder vote and this should be a done deal. I’ve added to my position today at $13.26 bringing my average cost to $13.07. A purchase today at $13.26 will generate a net gain of 1.81% (19.74% annualized return assuming a closing by June 30th).

Edit: I was able to add more at $13.26 bringing my average price to $13.14. I have a full position and now it's just the waiting game.


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