For weeks the price per share of PN seemed to go up, then down slightly, and then up again. But it seems that once it got up to around $9 per share, it has gone down almost steadily. I believe today it is at somewhere around $7.95 per share.
Anyway, I sold all of my shares at around $8 per share, and made a nice profit.
I’m thinking that perhaps if it goes back down to $4 or $5 per share, I will jump on the ride all over again.
Just wondering whether anyone here who had purchased shares is still maintaining a position.
Remember the reasons it got down to $4 and below – there was some weirdness with shorting / option arbitrage / etc. Whatever. Point is, I don’t see it getting down in that range again, barring some very bad news. In fact, I’m still holding most of my shares (though I too took a little profit in the $8 range), as their guidance (they literally called it “conservative” in the press release last Q) for 2016 is pretty impressive. If they beat that, as they are wont to do, I see $8 as a temporary stop toward a much higher share price.
Of course, as Saul sometimes says, “what do I know?”
Remember that this is a tiny company and carries some extra risk for that reason (and others).
My situation is similar to Bear’s: I also trimmed my position, about 2 weeks ago at 8.82, but only because it was getting to be too large a position for my comfort. Other than that, I see no reason to sell more right now.
That being said, PN is small and volatile, for sure. “But what do I know?”
I’m holding till I hear bad news that indicates it’s not a company that is growing far beyond management’s expectations due to their products being accepted by more customers and more quickly than planned. The bumps up have been purely due to them citing they are focusing on shareholder value and due to getting execs to buy shares. They haven’t even announced actions taken yet to increase the value. This will be very volatile due to the small size and low volume, but I believe it will keep averaging up over the year if they keep growing. It’s harder to predict week to week changes so I stay invested rather than try to time it.
