I Bought Collectors Universe (CLCT) Stock for 70 Cents a Share.
Ronyahski
Posts: 3,119 ✭✭✭✭✭
I've been cleaning out old financial files today to drop off for shredding and ran across this little diddy. IIRC, CLCT went public in late 1999 at an opening price of $6/share. By mid-2002 the price was hovering around a buck a share. September 19, 2002 was the nadir when I bought in at 70 cents, even below its opening and closing price for the day. Trading that day was 100x normal volume, wish I could recall what was happening that triggered my buy. I think it was that some funds were taking interest in CLCT, and started accumulating posistions.
The timing was perfect. The price hovered between 70-80 cents for a month, and then it blasted off from there. I got out within a year and a half at around $13-15/share. One of my best trades ever, it brings smiles. Thanks for letting me reminisce.
Comments
Perfect timing and your gain was substantial!
Until tax time.
Thanks for sharing @Ronyahski.
That’s how you do it!!!
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Nice trade! And then you bought gold in 2004, right?
Good call - Congrats!!
Successful BST Transactions: erwindoc, VTchaser, moursund, robkool, RelicKING, Herb_T, Meltdown, ElmerFusterpuck, airplanenut
Rock solid move, on both sides. I probably would have sold at $1.25
Dave
Man, I thought I scored when I bought 35 Wheat cents for $.70
``https://ebay.us/m/KxolR5
That also did a reverse split 1:10 (corrected to 1:4) just after that, so they were back at $7/sh. -- then dropped some more.
When Dave Bowers settled up M&B with CLCT he got 1 million shares. Eventually he sold his stake after reverse splits and other messes.
That took a bite out of it. I do remember trying to be patient and holding at least a year so as to get long-term capital gain treatment.
Wasn't a long term gain 6 months in TY 2003?
Well done.
Don't think so. Think you have to go back to the 1960's or so for the 6-month rule. In 2003 they dropped the tax rates for capital gains.
Sweet, great job !!!
What is the current value of this stock?
Now if you had had conviction to buy 1 million shares. you would be talking lunch with Trump at this Palm Beach Golf club rather than hobnobbing with the likes of us minions
Commems and Early Type
$17.48 today
It's right now $17.48 in premarket trading. The 52-week range is $10.01–$17.82.
https://cnbc.com/quotes/?symbol=clct&qsearchterm=clct
Kind regards,
George
Someone posted a 10-1 reverse split after this purchase, so does it means its really $1.748?
or was there other "regular" split since?
CLCT did a reverse 1 for 4 split on 12/9/02 so in effect, these shares were $2.80 per share compared to today's price. Still a 600% gain. Also CLCT was paying dividends for several years back then. Nice. Gold was around $350 so only a 400% return.
It was a 1:4 reverse split, not 1:10. Here are the monthly values including dividends from first listing to the present. Note that a common promotional approach is to state the present value of a $10,000 investment made 10 tears ago. This produces correct but unrealistic present values due to the Bush Depression. Almost any company that survived shows spectacular results. CLCT is no exception: investing $10,000 in 2009 would yield about $90,000 today with dividend reinvestment.
Source: Yahoo Historical Data.
I bought some CLCT stock back a few yrs ago at $15.54 per and it went up to almost $30. I was going to sell when it reached $35, but then it tanked and the dividends were cut in half.
Should've sold it.
Later, Paul.
you did well on that one. perfect timing on that as well, its all good