Saturday, January 18, 2014

MACK UP OVER 10% SINCE INITIAL INVESTMENT!

I purchased shares of Merrimack Pharmaceuticals Inc. (or ticker symbol MACK) in December of last year as a speculative play based on heavy buying by insiders in the company.  I'm happy to report that my initial stake is up over 10% so far!  I really don't plan on holding the stock for the long term, so as soon as I've made a substantial gain I'll sell all shares.  MACK pays no dividends so it would not meet the criteria as a long term investment in my current portfolio.  But, as I've said before, I think it's important to take advantage of as many ways to make money in the market as possible to advance your holdings.  

Will I win or lose with MACK?  Only time will tell.  It's looking good so far and I'm willing to bet the insiders have a good idea where the company is headed, so I'll tag along for the ride.  This speculative investment represents a very small percentage of my overall portfolio, so even if worse comes to worse and I lost all my money, it would not be catastrophic to my overall investment plan.

Wish me luck!

2 comments:

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