We recommended Orsus Xelent Technologies Inc. (ORS – $0.91) on January 10, 2009, at $0.47 as one of our three stocks for 2009. Although there was no real catalyst, the stock went up almost 50% this week.
The Company did report strong first quarter results on May 20th and this week’s jump may be a late reaction to it.
We believe ORS will move higher as the Company’s shares are still only trading at a P/E of 2.35. However, if you followed our advice in January, we advice you to sell half of your position now as this has two major advantages.
First, you have the money back which you invested originally in January and which you can re-invest into one or two of our recommendations that haven’t gone up yet, but are poised to do so. And secondly, if you only sell half of your shares now, you can hold on to the rest of them to enjoy the further ride up.