I have an announcement to make. My stock tracking portfolio will be closing its postion in International Coal Group, Inc. (NYSE: ICO). This position netted roughly 258% over a one year period.
The reason why I'm closing the position is Arch Coal, Inc. (NYSE: ACI) has decided to acquire International Coal Group, Inc. (NYSE: ICO) for $14.60 per share. I have to admit that this deal was first announced on May 2, 2011 and since then ICO has hovered at a 52 week high of $14.52. With nothing else to gain, I will close the position in the portfolio. Note: Your portfolio would hold this stock until the deal is completed and there would not be a need to sell the stock like I am in my tracking tool.
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