Time to Sell: Deli Solar Loses Majority of Directors to 'Other Interests'

The incredible rise might not be over in Deli Solar (DLSL.OB), but the risk profile shifted significantly Thursday when the company disclosed in an 8-K filing that three directors quit on March 9, 2007 "to pursue other interests."

That may be accurate, but it certainly sounds suspect. After all, serving as a director for a single microcap company usually only involves a couple board meetings per year -- hardly something that would preclude "other interests."

Given that the stock is up over 150% since the first of the year, and just under 100% since I opened a position exactly one month ago, I'm not going to wait until further information is revealed. I closed my entire position in Deli Solar and will now look to reposition those funds in a stock that did not suddenly lose the majority of its directors to "other interests."

Disclosure: Author has no position in DLSL.OB.