Thanks, Toni, for your response.
I was one of the early investors who participated in Genelabs' Regulation-S secondary stock offering (for foreign investors) about four years ago.
My cost basis was around $1. I sold enough shares to recoup my entire investment in a few weeks when the stock traded up to around $3, and kept the rest in "deep freeze" for a long, long, time.
The recent run-up represents the belated "payoff". The tough part now, is deciding when to SELL !
I am inclined to put in sell-stops, perhaps 25% at $13-1/4, 25% at $13, 25% at $12, and the final piece at $11-1/2.
My reasoning is that the stock has priced in a great deal of the optimism surrounding the conference already, and that there is a good possibility of a retracement down to $10 on the combination of profit-taking and market correction.
Otherwise, if the stock wants to climb higher, I will simply adjust my stops appropriately higher. |
