NEWM Trade Close-Out
As I noted on today’s earlier email, New Media Investment Group (NYSE: NEWM) popped above our $15.50 target price and I recommended that the trade be closed and for you take gains. NEWM traded as high as $15.75 during the day. A last two hours swoon in the overall market resulted in a $15.47 closing share price.
Going from the $13.97 open on May 30 to a $15.50 close today results in a 10.95% return in 67 days. That gives a 59% annualized return, exceeding the 40% minimum used to evaluate trade return potential for 30 Day Dividends recommendations.
The NEWM trade highlights the power of our dividend dates driving trading strategy. In spite of down market days (and not just small declines!) for four out of the last five trading session, the NEWM dividend announcement and pending ex-dividend date resulted in the expected market reaction to drive the share price above the target price.
If you picked up a few shares of NEWM and made some profits I’d love to hear from you. You can write me at [email protected]. And if you didn’t, don’t worry. There are more quick gains opportunities like NEWM coming along for 30 Day Dividends subscribers.