What I Sold: Electro Energy, Inc. (NASD:EEEI)
Of all the stocks I've sold in response to the market turmoil, Electro Energy was the most painful to sell, both emotionally and financially.
The sale was painful emotionally because I've been recommending this company for a year (albeit with the caveat that it was a speculative bet.) In each article I wrote I said something along the lines of "If EEEI can obtain financing..."
Now even investment grade companies have serious trouble obtaining financing. If an outside company is interested in EEEI's manufacturing assets or technology, there is little reason for them to buy EEEI stock. Any outside investor with cash will be in an enviable bargaining position. I no longer want to be on the other side of that bargain, so I sold my (much diminished) stake.
Other entries in this series:
- Held: UQM Technologies
- Sold: Carmanah Technologies
- Sold: Pacific Ethanol
- Sold: Dynamotive Energy Systems
- Sold: Nova Biosource Fuels
- Sold: VRB Power
- Ten stocks to buy at the bottom.
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