First the bad. Although I requested 300 shares of Intrepid Potash, Inc., I was only allocated 100 shares of the initial public offering (IPO). That was "The Good". The Great? I got those 100 shares at $32/share, and in just one day it climbed to $50.40. In just one day my investment had a paper profit of $1,840.
That profit is, like I said, only a "paper profit". It won't really count till I sell my shares, which I cannot do for at least 31 days. If I sell within 30 days or less, I will be disqualified from future IPOs for 3 months. So, I haven't really made anything, and wont make anything till May 5/23/08.
I'm not worried though. I've done a lot of research on not just this company, but the potash & fertilizer industry as a whole, and I believe it is a very good investment that will only continue to go up. I'm gonna keep my eyes on it though and I'll keep you informed.
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