A friend did some research after reading my post; Dead Money Comes To Life. He pointed out that shares of Organic Resource Management (ORI) have traded well above my selling price of $2.04 since the day I bailed. Well, he's right. After holding for four years I took the very first opportunity to get out with my shirt, and all of my money. I sold on December 3.
Since then Organic Resource shares have traded as high as $2.70. That was a single transaction on December 13. Otherwise they've been in the $2.01 to $2.25 range on very low volume. Many days only 200 shares change hands and it's not uncommon for there to be zero volume with this stock. Liquidity? Not so much!
No, I don't feel even a little bad about picking up my marbles on this one. The proceeds from the sale of my Organic Resource shares was re-invested four days later in Cisco Systems (CSCO). I took money out of stock in a tiny company with a market cap of $9.9 Million and put it into a huge tech company with a market cap of $116.4 Billion.
By the way, I bought Cisco at $19.55. It's $21.00 this morning. Organic Resource shares haven't traded since early Tuesday morning. Over twenty-four hours and zero volume.
Wednesday, January 12, 2011
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