The Daily Kill Sheet Picking Off Profits One Stock At A Time!

May 14, 2013

Daily Kill Sheet For May 14, 2013

Filed under: Advice,Consumer Discretionary,Take Profits — Administrator @ 8:46 am

I am taking profits on my 5/29/12 investment in  Sony Corp. (SNE, $21.61) with a 62.4% gain. The stock is up strongly this morning on news that Daniel Loeb has approached Sony with a letter stating that they should spin-off  part of its Entertainment Business to help raise capital to fix its ailing consumer electronics business. We bought the stock last year when it was trading at about 0.5x book value and my longer-term price target was $18 a share. The stock has easily surpassed that here and it’s time to take profit on the spike. While Loeb may want Sony to spinoff a piece of its business, there is no guarantee that Sony will listen to him. Thus, let’s take profits on the short-term spike.

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