Follow-up MultiClient Geophysical (OSL:MCG)

A couple of weeks back I did a follow-up on my MCG position since it had then passed the time for my net-net holding period (thirteen months). I concluded that the company no longer passed criteria (1) in the net-net checklist and that I should sell. However, since I hadn’t managed to close my position and that MCG this Friday published their Q3 report I decided to do a new follow-up. This time again MCG didn’t pass criteria (1) in the checklist and I put my position out for sale. I managed to get a close the same day at a price of 0,69 NOK. In relation to my purchase price of 0,77 NOK that translated into a loss of -10,4 %. After brokerage fees and some positive currency effect the loss was -4,9 %. 

Disclosure: The author doesn’t own any shares of OSL:MCG when this is published.