potash-ponds

Another One of My Investments Doubled… Now What?

This post is not meant to be construed as investment advice, you are solely responsible for your own investment decisions and any risk associated with investment decisions that you make.  Please consult your requisite investment and/or tax advisors :).

Exciting times in the Cents and Sense portfolio!  First, this investment has more than doubled and continues on a long-term increase.

Now, this other investment has more than doubled as well!  I first wrote about IPI when the stock was at $1.06 per share on 9/25/2016.  As of this morning, the stock has been trading at $2.40 – an increase of 126% in a little more than 2 months!

I previously posted about the major risk that I saw to the company, which I then updated based on new news that negated much of the bankruptcy risk.  Finally, I wrote about how just one of their four main mines could be worth the entire value of the stock (at the time).

Now, after watching the stock’s incredible and unexpected rise over the past week alone, here’s what I’ve done: added more.

I honestly don’t know what’s going to happen short term with the company, but long term I am convinced that the stock should trade at a multiple of its stock price, even its current price.

In fact, I didn’t buy more earlier because I was trying to save pennies — but instead lost dollars — dollars!!  Well, hopefully I’ve learned my lesson and if I really believe in my work, I shouldn’t worry about side pots or side games, but go in for the main prize because opportunity can slip away quickly and unexpectedly.

Here’s what the stock chart looks like since my first post.

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In any case, I am freeing up liquidity from other sources and increasing my position whenever there is opportunity.  I also have a lot of house money to play with from BAC :).

Are you invested in IPI and what are you doing with your position?

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