Chasing Value: Newcastle Shares Flying Off the Shelf

Filed under: Major Movement, Options, Bargain Stocks, Chasing Value[TM], Newcastle Investment (NCT), Stock Picks

One of my bargain basement stock picks (thank you Sir John Templeton) is flying off the shelf today and has been for a month. Newcastle Investment Corp. (NCT) was one of last years successful picks. It is trading up today almost 10% as I write this at 3:30 PM, EDT. (update: $3.84 +11.95% final)



I have written before about picking up this as a penny stock for 60 cents a share amidst the market panic of days gone by, now sitting on over 500% gains, and still counting as the stock is currently trading at $3.77 -- yikes!



I rarely dabble in penny stocks but Newcastle is a CMBS player with very diversified real estate interests that I have been following since it was trading near $20 per share and paying a double digit yield.

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Chasing Value: Newcastle Shares Flying Off the Shelf originally appeared on BloggingStocks on Thu, 07 Oct 2010 16:40:00 EST. Please see our terms for use of feeds.

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