Agean Marine (NYSE:ANW), a member of my 20 Stock Portfolio, made some pretty wild gyrations. When I reviewed the stock on Sept 14 the price was about $26, it then proceeded to go generally only up, peaking at $48 on Oct 18. Too bad I did not actually buy some! Over the last week, however the stock has fallen to $36 before recovering Friday to around $41 and a 1/2.
The gyrations seem to be a result of the major stockholder registering to sell 7 to 8 million of their shares. The company has also announced a quarterly earnings report to be released on Nov 7. I think ANW has excellent long term prospects, but it appears any short term earnings surprises (positive ones!) have been built into the stock price.
Several Wall Street analysts have jumped on the bandwagon lately, increasing my concern over the short term price. Not that I really have a concern, I do not own any stock yet. I hope to in the near future, and a strong price pull back would be welcome to me personally.
I have started the 20 Stock Portfolio to track through this blog stocks I find of value and interest. Most of the stocks I own are in the portfolio but I do not own all of them.