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Wednesday, 19 December 2007

Centro Properties Bonanza

My dabble in Centro Properties stock (CNP) continued to pay off today, rising to around $1.50 before dropping back to close around $1.20 -- an 82% gain on my purchase price of $0.66 in one day! Centro made reassuring noises today (that "Centro is comfortable about the ongoing viability of the business and would not allow its securities to trade if this were not the case"). At this stage I just have to decide whether to realise a short-term capital gain (I don't really want to realise any capital gains until after 30 June), or whether to hold on and hope that the company remains liquid - in which case the shares may return above their supposed "book value" of around $2.30 per share.

Copyright Enough Wealth 2007

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