With the continued tension in Hong Kong, I decided to temporarily reduce my stake in IFAST further and sold it at $1.00 yesterday for a profit of about 8.4%. Including the sold positions from March and July, and all the dividends received, total return is about 22%.

Hong Kong contributed about 23% of IFAST revenue in 2018 and was one of its fastest growing segment with net revenue growing at 32.3%.  I do not know the impact of the unrest on IFAST upcoming results but given a weaker performance this year, any further bad news in the coming quarters are likely to push the price down further. Of course, my fear could be uncalled for, especially when the CEO just added some shares last month.

Nonetheless, I made the decision that I am most comfortable with. Holding on to the remaining 10k shares to keep the company in my radar.

 

Advertisement