Trade Updates – RENN & SIRI: Closing Two Losers (Pun Intended)

by Dan May 6, 2014 12:20 pm • Commentary

It is our belief that we are headed into an increased period of equity volatility and that owners of stocks will want to make sure they believe in the companies, the products, the strategies, and the managements of the stocks they own as the next few years may not be nearly as easy (in hindsight) for equity returns.  There are two “little” stocks that I have bought with low conviction (and plenty of caveats) that i am now going to sell, both being losers as I can honestly say that the catalysts for which I bought them no longer stand.  To refresh:

New Trade – SIRI: Live! With Regis

on Dec 24th, 2013:

TRADE: Bought SIRI stock at $3.58
Action Now: Sell to Close SIRI at $3.23 for a .35 loss


New Trade – RENN: Rising IPO Tides To Lift All Dingies?

On April 16th, 2014:

TRADE: RENN bought shares at $3.33
Action Now: Sold to Close RENN at 3.30 for a .03 loss