XFML Keeps Marching Higher
By Sun on Jun 19, 2007 in Stock, Investing
Post viewed 648 times, 1 so far today
Since I bought some extra shares of Xinhua Finance Media on June 1st at $6.95, the stock is going nowhere but up. Currently traded at $9.94 a share, my latest trading has brought me $428 of profit (42% gain). Overall, instead of being more than $400 in red, I almost break even at this point.
In addition to the several reasons I listed in a previous post that helped move the stock, recent developments include:
- XFML won a contract to re-brand a TV channel;
- XFML finished acquisition of Beijing Mobile Interactive Co.
Since I have decided to use my Zecco account for trading (Money Ning made a good point of separating trading and investing in the response to this post), I will need to sell the 143 shares at some point to collect the profit. Another 340 shares I bought on its IPO day will stay with me for the time being.
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