The share price of Tyro (TYR) has kept increasing so it is time to increase the stop loss level once again on the open position.
The TYR position was opened on the 19TH of August at $1.05 and at the close of trading yesterday the share price had increased to $1.705. The increase in the share price is occurring because of the market’s expectations of an improved takeover offer from one of the parties that have expressed an interest in acquiring TYR.
It is tempting to sell now and lock in a big return on invested funds but as we have seen in the past multiple interested parties can lead to a bidding war breaking out which can lead to a substantially higher share price, so we are comfortable in holding the position.
If all the interested parties ultimately end up not proceeding with the takeover the share price is likely to fall back to the stop loss level.
TRADE ACTION
Stop Loss: Increase stop loss level from $1.25 to $1.45
Target: No target price
