In just 50 days, the stock rose about 36%. On March 1, I decided to take my profits on EDMC. I bought at a share price of $13.91. I sold it at a share price of $19.24.
I probably could have held onto the stock longer but since my goal was not long-term I went ahead and took the profits. I bought 72 shares for a total cost of $1011.51, with the trade commission of $9.99. I sold all 72 shares and with another commission of $9.99, netted $1375.29. A total profit of $363.78.
This is not big money is it? But 36% is a nice return in a short time.
My goal is not to get rich quick. My goal is to learn as much as I can about how the stock market works and, over time, make my money grow.
I will continue to watch EDMC and other for-profit education companies. Here is my watch list of 10 for-profit education companies. This is sorted by Market Cap. The Last price is as of close on March 2, 2011.
|Name||Symbol||Last price||Mkt cap||Volume|
|Education Management Corp||EDMC||19.71||2671||224477|
|ITT Educational Services, Inc.||ESI||75.4||2265||290903|
|Strayer Education, Inc.||STRA||143.39||1903||181140|
|Career Education Corp.||CECO||24.15||1868||586248|
|Bridgepoint Education, Inc.||BPI||19.16||1001||577628|
|Capella Education Company||CPLA||57.59||939||230499|
|Grand Canyon Education Inc||LOPE||16.46||753||408723|
|Corinthian Colleges, Inc.||COCO||5.24||443||2970927|
|Lincoln Educational Services Corporation||LINC||16.11||357||612846|
If you would like to see my other holdings, please Join the inMessment Game. It is completely free and we can learn to invest together.