November 19, 2008 by esarsea
Back in August I wrote about entering the world of penny stocks, and the sports drink Rudy; a company founded by Rudy Ruettinger. If you’re new to the BS BLOG, you can read my Rudy post here.
Rudy was trading under the symbol RUNU when I first purchased some Rudy stock. At the time it was trading at $0.0024. I made two purchases totaling 150,000 shares for $395.90, which included commissions.
As a result of some missed financial filings, trading of RUNU was suspended. This problem was resolved, and Rudy resumed trading (under the new symbol RUDN) after a 4:1 reverse stock split. This reverse split reduced my shares from 150,000 to 37,500 – but the value of the stock increased to nearly a cent.
I received notice yesterday that RUDN is merging with Marshall Holdings International, Inc. which trades under the symbol MHLI.OB. Marshall Holdings was trading at $0.04 yesterday. I took a look at it this morning and it opened for trading at $0.10…and it closed today at $0.13. If it holds this price, my little $395 investment would be worth $4875! I suspect the price may be diluted some after the merger is complete, but all in all it sure looks positive.
Marshall Holdings was trading as high as $3.45 per share just a few months ago. Sure, it’s a long shot for Marshall to return to that price…but if it does, my $395 investment would be worth $129,000.
Legalized gambling at it’s best!