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Time to cash out!

|Includes:GMARKET (GMKT)

Surprising to see the whole company sold for only $24 today. The deal isn't too bad considering that the stock was trading in the mid-teens last month and the offer leaves most investors in the money over the last 18 months. Thats something you can't say with most stocks. Still it's disappointing to see them sell out so low.

  • The purchase price will be up to $1.2 billion if all outstanding shares are tendered. EBay said it has already clinched agreements to purchase at least 67% of the Gmarket's shares.

We cashed in our shares today at $23.80 based on the news. Now is the time to take your profits and move on regardless of whether you think the price is fair. Don't really see anybody coming in with a higher bid since the likes of YHOO aren't interested. Best bet is to take your profits and buy MELI on a dip.

 

 

Stocks: GMKT