Thursday, January 2, 2014

Closing FIAT: Declaring Victory

When I bought FIAT (OTCPK:FIATY) in November, I listed my reasons. I also mentioned that I like the stock below $8, but might reconsider if it goes up a lot.
Now it happened. Stock jumped because FIAT bought the remaining part of Chrysler. I'm not sure that reasons for this jump are valid, so I declared a victory and closed position. 20% in less than two months is good enough, and I'm not sure stock really worth that much.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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