I decided to go through with my plan to top-slice some profits from VRS:Versarien this morning.
The price had gone up some more, and although I'm very happy and sure they will go much further, I'm applying the OPTI:Optibiotix model that there's a chance these will be traded mercilessly up and down until they start producing predictable revenues.
I've held out with OPTI:Optibiotix because I don't want to lose the right to any free spin-off shares, but have watched the yo-yo effect for nearly three years now and every time I get into profit, I sit and watch it all vanish again.
I'm not prepared to do that with VRS:Versarien, so sold 1,626 shares this morning for 94.82p making £353.54 (31%) profit. That leaves me with 6,000 and I intend to re-invest the proceeds from the sale back into VRS:Versarien if the price should fall back into the 70-80p range. If the price drops to 75p then I can increase my 1,626 to 2,000 which would be great.
My plan is to always keep 75% of my holding and trade the other 25% on peaks and troughs.
Knowing my luck the price will permanently re-rate, which isn't all bad as I'll still have the profits from my 75% retainer, but I'll be miffed if after all the other shares I've held which yo-yo, this one suddenly decides to buck the trend.
If I hadn't done the sale, the portfolio would have been positive today, which is quite impressive considering the big drops across the main markets. I'm only £200 down on difference between portfolio cost and value today and would have been £153 up without the sale.
AMYT:Amryt Pharma announced a new deal to sell Lojuxta in the Middle East this morning. Should increase their revenues from this channel by 25%. Caused a minuscule 0.4p share price rise - grr! This is a perfect example of an AIM share where I was once making good profits but now 9% loss, and yet the situation has improved markedly.
I must now remain strong and hold my £1,500 cash to buy VRS:Versarien, and not get tempted by the massively over-done drop in CEY:Centamin or another drop in OPTI:Optibiotix price which would be very, very wrong - but the temptation is pretty hard to resist...
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