Sunday, September 29, 2013

Mega Uranium and STEC

Unfortunately I own both of them.

STEC is being acquired by Western Digital (bought at around $13 and I will get some $6, should be grateful as the last price was around $4) and Mega is changing its' name to Uranium Capital Corporation as it was nothing mega about a penny stock worth $0.08/share down from the $3 I bought at and from a maximum of $7.4 in 2007.

The name change won't make any difference like in this case From Olympus Pacific Minerals to Besra.
The stock dropped -75% from when they changed the name. It is now $0.055 and yes I own this one too.

We have been informed that the merger between sTec Inc. and Western Digital Corporation is effective. As a result, holders will receive approximately $6.85 USD for each common share of sTec Inc. held."
I cannot be bothered to check the exact purchase price, it was around $13 but it does not matter as the stock was in a registered account. And what is this sTec starting with a small letter? They just wanted to be more interesting.

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