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One of Gramercy Capital's (GKK) larger owners uses the recent big run-up in the stock to lighten...

One of Gramercy Capital's (GKK) larger owners uses the recent big run-up in the stock to lighten up on his holdings. Kwon Uk Choi sold 780K shares (13D) over the past couple of weeks, bringing his stake down to about 6% of the company.
Comments (8)
  • TFCAB
    , contributor
    Comments (2021) | Send Message
     
    now i know what happened to the share price this week. the downside of having big shareholders i guess.
    5 Apr 2013, 12:41 PM Reply Like
  • BL58
    , contributor
    Comments (36) | Send Message
     
    OK, mystery revealed now.
    5 Apr 2013, 12:44 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (7285) | Send Message
     
    At the same time, someone (or multiple someones) bought 780K shares. Over the coming months, there will be a lot of turnover as conventional REIT investors move in, buying shares from some of the earlier stage deep value investors.
    5 Apr 2013, 12:47 PM Reply Like
  • TFCAB
    , contributor
    Comments (2021) | Send Message
     
    I am trying to learn from you chris........just be patient....telling myself this one will take 9 mo or longer to play out and true value realized...maybe longer. ..and not to get too wrapped up in the daily / weekly wanderings of the stock price
    5 Apr 2013, 02:06 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (7285) | Send Message
     
    I hate losing money anywhere for any reason; I'm as immature as it gets. When I'm down $0.01 on a day, it makes me want to go out and rob a bank or get a part time job to earn it back. The only thing that I know how to do is 1.) reexamine my premises and 2.) look at the results less frequently. If my premises are correct, I let things play out. A lot of ideas work year over year that are less clear day to day.
    5 Apr 2013, 02:11 PM Reply Like
  • BL58
    , contributor
    Comments (36) | Send Message
     
    I hope you're doing #2 with $GKK :-)
    5 Apr 2013, 02:15 PM Reply Like
  • agcole
    , contributor
    Comments (7) | Send Message
     
    To state the obvious, no stock goes straight up so it's important not to let anticipated declines get in the way of one's perceptions. Mr. Choi's probably done pretty well and as a prudent investor he elected to rebalance his portfolio. Chris, thanks for sharing your insights here and elsewhere.
    7 Apr 2013, 11:50 PM Reply Like
  • CREnvy
    , contributor
    Comments (17) | Send Message
     
    My view is that this stock breakouts out once it gets through heavy resistance at $5.55. Meanwhile, we have support at $4.55.
    6 Apr 2013, 10:39 AM Reply Like
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