I sold a wee bit today, but I don't recommend it
Good morning folks...
I sold a very small percentage of my position today, even though it was in the middle of my hold range.......
Why did I do it? Don't blame Gatekeeper! There are a million reasons to sell, and I did something I RARELY do, and that is make a move on short term thoughts....
I have another company I have just begun buying, and I have been wanting to inject more capital into it ASAP, and this provided a way of doing it.
My personal belief is that today's spike will be very temporary based upon zealous investors that do not understand the chunky nature of Gatekeeper's revenue. $9mil is great, but not a surprise, nor is it regular and recurring enough to push most institutions to want to risk their capital yet.(In my opinion)
I also believe Gatekeeper's share price will drop back into the low to mid 30s, or even back into the 20s, as we are still some time away from regular and predicitable growth and earnings. I could be WAY WAY wrong on this, and maybe it runs up rather than down, predicting short term prices (under 2 years) is better left to a coin flip than going by my thoughts, but long term, I get things right quite often.
I hope this doesn;t do anything to distract from the GREAT news release regarding SEPTA today, but it was not entireley unexpected..... Hopefully we get back into sub-30's and really make it hard for me not to buy! (OR just charge forward for a few years, I would be happy with that also!)
Cheers!