Although I don’t have a stake in the equity of First Uranium (TSX: FIU), I note with some mild amusement how a company can go up and down so rapidly in a short period of time – makes you wonder whether it is the same participants buying and selling, or what the motivations of the market are at the time:
From a high of $1.36 intraday to 93 cents a share at the close is a 32% drop. Wonder who those people were that bought at $1.36, and what they are thinking now.
The debentures and notes were relatively stable – a trade went off at 110 cents on the notes (closing with a bid-ask of 95-100), and the debentures have creeped up to 74 cents, but nothing near the volatility seen in the equity.
I bought 1000 shares at $1.05 per share in my Tax Free Savings Account. Book Value is $1.29 / share. I’ll hold it and sell it at $6.05 and make 5k tax free. Just a few years ago this was a $12.00 stock.
While I wish your $6.05/share dream comes true, the chance of that happening is slim to none.
Book value is also $1.69/share from June 30, 2010 share count, or $0.97/share assuming $1.30/share conversion of notes.