Moko Social Media Limited (ASX:MKB) is a business operating in the mobile apps space which generates revenue from customers in the USA. Moko is planning to dual-list on the NASDAQ in April to expand further. I believe the company is undertaking an investor road show this week in Sydney and Melbourne which should generate some new interest. We took a buy on this on Thursday after it bounced off the longer term trend line.
Sold 1/3 at 24 cents (+2.5 cents or +11.6%) to reduce risk and lower average of remaining 2/3rds. Hold rest now for target area.
Sells remaining 2/3 at 23 cents. Cost after 1/3 sell from 11 February = 20.65 cents. So, +2.35 cents or +11.3% on what was the remainder of capital in the trade. Gave it every chance.
This article is published by Dean Mico.
Disclosure: The Edge Fund has taken a trading position in Moko Social Media.
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