… at least that’s what I wish I’d done last week.
As the news hit about potential problems at Thomas Cook (TCG) last week the shares went into freefall. As I wrote here, I made two purchases on the day, the first at 18.83p and the second at 11p.
Oh how I wish that second purchase had been bigger!
Thomas Cook shares staged a bit of a fightback towards the end of the week. Today, after briefly touching 28p in early trading, they ended the day up just over 18% at 21.49 – almost double what I paid for my second lot last week. Even my first purchase is showing a gain of just over 23%.
Today’s share price rise was in reaction to news issued late on Friday that cash-strapped Thomas Cook had reached an agreement with its bankers to provide the company with a new lending facility.
OK, so things are far from rosy at TCG, and Credit Suisse issued a research note saying “clarity on the group’s financial outlook remains very uncertain”, but these are exciting (or daunting) times to be a Thomas Cook shareholder.
I’m extremely tempted to sell some of my holding in Thomas Cook shares to lock in some of the gain. Could this be the first realised profit since becoming the Amateur Investor?
The FTSE 100 closed the up nearly 3% at 5312.76