Play Magnus – Chess.com Take-over or take under ? –> Shout out for Experts on Norwegian Take over laws !!
Play Magnus is a stock some of my readers my remember. I initially invested (speculated) in October 2020 at 16,5 NOK per share, but sold quickly after my initial timing was really bad with a loss of around -20%.
I then bought again in November 2020 at a higher price (~17 NOKs) . I then managed to sell around 1/3 of the position close to the high at 38 NOKs per share. This year, i sold the remainder of the position shortly after Russia invaded Ukraine to manage portfolio volatility. Overall, I made 0,5% on the whole trade (pre taxes, pre costs) which clearly shows that my trading skills are not very good.
I still followed the stock as I liked the business, the management team and thought that at some point in time this could be interesting. Actually I just talked this Monday with a friend that at prices below 10 NOK, the stock looks interesting.
The stock chart shows how volatile the ride from Play Magnus was since its IPO: