Revisiting the Nine Dollar Stocks (TTWO, F, ERIC, MGM)
Recall in summer when we profiled 4 stocks that were in the $9 range. They included Take-Two Interactive (TTWO), Ford Motor (F), MGM Resorts (MGM), and Ericsson (ERIC). All but one have increased in value and TTWO is the big winner.
Take-Two Interactive (TTWO) shares have increased 21% since that article. Moving from $9.10 a share to today's closing price of $11.50. Take-Two like most of the video game makers was left for dead back in the summer. Turns out consumers haven't decided to just buy iPhone games and ditch traditional console titles. Video games sales have yet to catch fire but with Take-Two at a 3 year low, its picked up some inevitable buying interest.
Ford Motor (F) was our favorite of the bunch and its up 11.6% since we recommended it. Ford has moved from the low $9 range to today's closing price of $10.22. Ford pays a 1.9% annual dividend yield and continues to have the most healthy balance sheet of the big U.S. automakers. Ford is still facing issues recovering overseas but it should not be slept on. A wildcard for the company continues to be how long will CEO Alan Mulally stick around. As of today Mulally will exit at the end of 2013.
MGM Resorts (MGM) shares have increased 9%, from $9.36 to today's price of $10.38. Last week MGM got a wink from Fitch Ratings who revised their outlook to 'positive' on the company. Las Vegas is far from dead and MGM China could help lift the bottom line.
These three stocks (MGM, F, TTWO) still have potential but take some off the table if you made some coin.
Ericsson (ERIC) is the loser and has fallen 4.2% and closed today at $8.77. Ericsson may be the world's largest supplier of network equipment for telecom operators but that crown doesn't imply its a decent investment. With over 78,000 employees Ericsson could trim the fat to make this company lift its share price. Forget this stock as we move on to the next one.
Mastery Bottom line:
These stocks were mentioned in Nine Dollar Stocks for Sale on July 30th, 2012.
There's no need to repeat why we liked them, if you really care click to read our past recommendation.
Turns out 3 of the 4 were on sale, congrats to all who placed the trade.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Bulls Take Notice - Caution Suggested as Credit Markets and Equity Markets Diverge | Financial Sense
- US Stocks Are Open, Time To Dump A Billion Dollars Worth Of Gold Futures | ZeroHedge
- World Oil Production – Where Are We Headed? | Financial Sense
- Bump and Run Coverage | iBankCoin.com
- REMINDER: ALL THE MAMACITAS LOVE A MAN WITH A VERYKOOL | iBankCoin.com
- Goldman Goes Schizo On Gold: Boosts Price Target To $1200 Even As It Is "Selling It With Conviction" | ZeroHedge
- After the Jump | iBankCoin.com
The most relevant financial news and articles from the Internets
- Experts Break Down The Two Plane Crashes In Bad Weather That Happened In The Last 24 Hours | Business Insider
- 17 Things Successful People Never Say | Business Insider
- Visa Profit Beats Expectations, But Stock Falls (V) | Business Insider
- Notable Mergers and Acquisitions of... | StreetInsider.com
- Jon Stewart Sets Up Funny $10 Billion Kickstarter To Buy CNN | Business Insider
- Walmart US CEO Retiring (WMT) | Business Insider
- Where Facebook's Money Comes From | Business Insider