Webzen Rebound
I take back what I said the other day about taking profits in KONG too early. Webzen is currently up over 14% on the KOSDAQ with heavy volume. I bought more WZEN shares with my KONG proceeds on Tuesday. Now I just need to figure out the reason for the WZEN rebound. Let's hope it is part of a new trend! I still have a fairly big paper loss on my Webzen position.
Disclosure: I am long WZEN
Update: Webzen just hit its daily up limit (13,700) on the KOSDAQ. If it closes at this price that is a very good sign and may imply that WZEN could climb even further on the NASDAQ tomorrow!
posted by JDMBA @ 10:34 PM
1 comments
1 Comments:
Hi JDMBA & Welcome Back,
I hope that your ebay auction brings you a decision that you like!! Very interesting way to make a choice, and that's a fact.
I am beginning to think that there was no real reason for WZEN to go up except that the market decided that it was beaten down too far & that a (some) foreign investors found value in the stock & decided to take a (or increase their) position. Like yourself I have been scouring the web looking for news & I found absolutely nothing of note.
If you are in the mood, I for one, would like to hear more about your trip to China.
Thanks & Best Regards,
Jon
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