Stock Trades: Bought Pinecrest Energy, Sold Hyperion Exploration
I also sold 1,000 shares of Hyperion Exploration (TSXV:HYX) from my TFSA account on Monday.
In at $1.08, out at $1.19, profit =??+8.34% after commissions.
Stock Trade Commentary
I am nibbling on Pinecrest Energy and I now hold it in my TFSA and my HELOC account. PRY hasn’t participated in the latest market rally for a good reason; they will be taking a hit on their Q2 and the share price might come out weaker than what it is. On the other hand, Q2 is behind us, the company is on track for its exit production and resumed drilling on its lands. A battery expansion should be completed by July 10 and the icing on the cake would be the rainbow pipeline getting restarted. I expect a positive update by mid-july from the company. Finally, the share price held up quiet well given the fires in its areas and the market sell off compared to how other juniors got whacked.
I only sold 1,000 orphaned shares I had in my TFSA from HYX. Originally I tried to buy 5k shares and only 1k was filled at the time.?? My core position of 10k shares in my HELOC will stay the course. I am trying to buy shares in another company with the small amount of money that’s free in TFSA but I haven’t gotten my fill yet.
What’s up with the SkyWest acquisition? It’s what it is, just a rumor. I am glad the share price went over 50 cents today, hopefully investors revalue this company with a price that reflects its potential. Its a shame I did not have dry powder to buy many many stocks that got hammered but we are still in early July, summer might well have more opportunities in store.
Have you taken advantage of the selloff?