Purchase Price: $0.885 on IPO Debut
Target price: $1.06
Sold Price: $0.895 Today
Profit / Loss (after deducting Comm): 0.58% over the tenure of 2 weeks
Comment:
I have liquidate all my holding of IReit Global. The profit is negligible and the counter was sold while it was still far from fair value.
Rationale for selling prematurely is:
- Price wasn't moving much from IPO price. As a result I believe speculators are looking to quickly liquidate their holding too.
- There is a need to take shelter from the coming ECB (Euro Central Bank)'s Quantitative Easing (QE) program which will depreciate the Euro, reduce the yield and therefore price of IReit.
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