Although I don't have shares of PMZ, I still enjoyed the collateral effects of the takeover news, because I have shares of other reits like Calloway, Artis, Dundee, Cominar etc... all of which rose nicely, after three months of steady declines. I wanted to buy Killam and H&R too but still think reits in general are expensive and I already have a lot.
Freeport pulled the rug from under everyone's feet by suddenly venturing into energy. Its shares fell 15%, on top of an already dismal year. Shareholders should revolt. I am steering clear.
Not sure why Corus Entertainment rose so much in two days. It could be investors speculating that Shaw Communications would finally acquire the company, after a related company, Shawcor, announced it is no longer for sale. I of course sold calls on Corus just before it rose another dollar. Oh well.
I am interested in Shawcor but for two days my bid failed to get hit. Will try again tomorrow. Meanwhile, the under the radar Evertz Technologies fell in response to okay earnings. Was also of thinking of increasing my position in this. Management owns over 50% of the shares so it is unlikely to be taken over like Miranda Technologies, its competitor.
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