I seem to get this itch when I transition into a new year, and so on the day I transitioned from year 2 to year 3, I decided to sell GVC:GVC Holdings.
This has been such a great share for me. I bought in at around 422p and sold about a third of my holding for 543.5p making £236 (27.5%) on those.
I later bedded the rest into my ISA, selling at 685p and making an amazing £1,499 (63.9%) profit.
However, that doesn't really count as I bought them all back in my ISA for 685p and sold them today for 787.55p making £549.24 (14.2%) profit.
So I have to say "thank you" to GVC for being such a great share
Why did I sell?
I think these will continue to climb, but they have been very volatile lately and I've been getting a bit twitchy.
I also have ethical problems being invested in gambling. I'm uneasy about making profits by taking advantage of people who have an addiction. It's similar to tobacco which I avoid investing in. Clearly I'm not so opposed to it that I'm worried about making over £2,000 profit, but I'm just a little bit opposed, so feel a certain weight off my shoulders now.
Another reason for the sale was my concern over the performance of the ISA and share accounts, having dipped well below my 10% target for sales and dividends. This sale has taken the average up to 9.7% which is far more healthy.
So I ended up with around £4,300 in my account to do something interesting with.
My first purchase was MTFB:Motif Bio. I've been watching these for a while and they are pretty close to getting approval for a new antibiotic with a potential $1b market. Given trial results so far, these appear to be relatively de-risked for a junior pharma, and the price tanked a bit recently due to a placing, so now seemed like the ideal time to buy. I purchased 3,411 shares at 28.9638p costing £999.91. They ended the day on a bid price of 28.75 so the spread has almost been caught up already.
My next purchase was meant to be some more IQE:IQE which had taken a dip on Friday and I figured now was a good time to strike. However that was scuppered by an article in the Telegraph yesterday which caused the share price to soar early on. It went as high as 118.5p at one point. It ended the day at 114.5p bid price which sent my portfolio rocketing and immediately removed the paper loss from selling GVC:GVC Holdings, in fact the combined portfolios are up by £563 so in reality they would have climbed over £1,000 today. So I didn't buy the shares but have kept some cash back so I'm ready to strike if they have a post-article dip or a tree shake. I may set up a limit order in case I'm busy when the dip happens. I'll set it at 104p which is what I hoped to buy for.
So that left me with another £2,000. What on earth could I do with it? Well the question was answered for me when OPTI:Optibiotix dropped to 61p. How could I stand by and miss an opportunity like that? I bought another 3,207 shares at the ridiculous price of 61.98p costing £1,999.65. This has brought my average price in the ISA account down from 71.8p to 70.3p.
Imagine my joy when I got in tonight to find the price had ended up in the blue and a bid price of 64.5p. I think this is the first time OPTI:Optibiotix has done something nice for me in the long, tortured time I've been holding. I rather hope this is a habit it will nurture and grow!
Needless to say this takes OPTI:Optibiotix to 36.6% of my entire portfolio with 33,259 shares costing £23,352 and currently losing £1,936. How long will they be losing money? Will I get another chance to accumulate? How many free SBTX:SkinBiotherapeutics shares will I get? More to the point, how many free Sweetbiotix shares will I get, coz that's the big one! The strange price action we saw today could have been a large order filling, although I would have thought it would have been more difficult to buy on-line if that was the case. Given that my purchase is showing as a sell, you can't believe a word you read on the trading lists - an issue which I think is utterly scandalous!
That's it for an exciting day - just need to watch IQE:IQE like a hawk now, so I'm ready to pounce for more...
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