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27 Sep | Sale – A Little More Renesola

So we pulled the trigger on Renesola and sold off 500 shares – half our holding – last Wednesday at a price of £3.5375 per share. The reasoning: well, besides SOLA.L pushing some two year highs, we’re working to a little bit of a deadline  before Renesola dumps its AIM listing and takes all of its toys to New York.

So whilst it’s always nice to bank a triple-bagger (we are averaged into Renesola at £1.1227 per share) there’s still a sense of loss at what could have been. Put it this way. If Renesola’s move away from AIM wasn’t imminent, I wouldn’t have contemplated selling. Renesola’s chart of late is a ripper.

Now I know there are European based brokers out there willing and able to deal in New York and today markets are truly international, but to be honest, I’ve been happy in the past sticking primarily with UK based shares, albeit in this case with Chinese operations and a joint NYSE listing.

Adding a US component to my portfolio seems like an almost unnecessary risk. Close of markets in New York is past my bed time so there’s an element of not always being fully informed too. That’s my justification at any rate.

I’m still holding a further 500 shares and the price is still rising (it’s just touched £3.70 as I type) so I’ve still a got a few weeks left to decide whether to follow Renesola to the US.

Paul
rsvp@investorsoiree.co.uk