Trade Alert: BYDDF
Sell BYD Company (OTCMKTS: BYDDF).
BYD Company (OTCMKTS: BYDDF) has caught fire since a Chinese official revealed that China was considering a timetable for phasing out cars that run on fossil fuels entirely. While we like BYD, the largest electric-car maker in the world, in the long run, in the short run the share price may have gotten ahead of itself and could be due for a correction once the euphoria dies down. After all, China’s plans are quite long term and may not boost short-term earnings for BYD very much.
We may revisit the shares at a future time. In the meantime, take the very nice gain.
For those who may have missed an earlier Trade Alert, we added Jazz Pharmaceuticals (Nasdaq: JAZZ) to our portfolio today.