I’ve been traveling the past two weeks and have made little posts in the intervening time period but this morning comes news worthy of sharing.
During the past two weeks market strength and stability began to reappear and I began reversing my cautious stance in favor of a more bullish profile. Over the past three weeks I’ve added a handful of positions but the stock that ranked the highest in my most demanding and best performing model was Sun Healthcare symbol SUNH.
SUNH is an operator of nursing and rehabilitation hospitals and care facilities.
As of last night SUNH was our largest position in client portfolios with an average price in the range of $5 to $6 a share. Today comes the news that Genesis Healthcare will buy Sun Healthcare for $8.50 a share, a whopping 43% premium to yesterdays closing price.
Wow
Long SUNH