Sneaky Falcon Enterprises, LLC has sold 700 shares of GigPeak Inc (Ticker NYSEMKT:GIG).
For the original recommendation presentation, see: “Greed is Good. Higher Risk = Higher Returns” Presentation.
Depending on perspective, GigPeak was either a big waste, or selling out today was a Valentine’s Day miracle. Either way, we are out, and in the green.
The 700 shares were sold at a price of $3.05, resulting in $2,108 in cash (after commission). The sale resulted in a modest profit of $117, or a 6% gain.
After floundering mightily in the months following the purchase, dropping to as low as $1.70 per share, it was exciting to get out of this stock for a profit.
GigPeak finally started experiencing some positive momentum late in 2016 and early this year. However, it was on the news of a major buyout by IDT for a premium that sent to stock soaring above $3 once again.
While this trade was nothing to write home to mom about, thing fortunately panned out in our favor.
Check out our portfolio page to see our other stock holdings.