Millicom International Cellular S.A. (MICC)

At the end of July I bought a thinly-traded NASDAQ stock of a telecommunications company based in Luxembourg named Millicom (MICC) that focuses on cellular phone growth in emerging markets and developing countries. The stock at the end of July was hovering around $80.00 and I happened to pull the trigger and buy some on a down day at $79.15. Over the past three months I had watched the stock go up and down from $80.00 to as high as $91.00. Yesterday the stock closed at $86.71. This morning, however, the company released its third-quarter earnings and posted better than expected results. The stock skyrocketed to over $100.00 and I thought that this might be a good time to cash out. I placed a limit order on what shares I owned and sold at $102.50. That’s a profit of over $23.00 a share, minus the commission I paid for each transaction.

Now, I just have to hope that the hype wears down and the stock falls down to below the price that I sold at. There have already been a few times in the past six months that I have sold a stock on a down day hoping to hedge my losses only to watch the stock rise much higher in the following weeks. I end up kicking myself. Who knows what MICC will do. This morning the demand was high and the stock rose. Only time will tell if I sold my MICC at the top or solely at a peak on its way up to bigger and better things.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: