PVCS – Selling/Profit taking the shine off recent rises

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PVCS (LSE:PVCS) investors are patiently waiting for an announcement from management to tell them how much of the surplus cash they are going to get.

The rise in Jan from the 10-12p to the 12-13 pence range can be attributed to the Investors Chronicle piece aiming for 30% upside on a balance sheet investing strategy. However the last few days has seen a break out from this range pulling the stock back down. At these levels, which is relatively tight against broker Peel Hunt’s 13p liquidation target, one prudent decision would be to take profits and de-risk the investment. The investment case still stands as before, and best of luck to all holders who decide to stay in and gamble for more gains on the next RNS.

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