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

Mar.18.07 | About: China Solar (CSOL)

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."

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Disclosure: Author has no position in DLSL.OB.