CUBA Fund Spikes on Reports Obama Will Allow Telecom Companies to Apply for Licenses in Cuba
Shares of the Herzfeld Caribbean Basin Fund (Nasdaq: CUBA) are going wild on reports out of the WSJ that the Obama administration will allow US telecom companies to apply for licenses in Cuba as part of a policy shift.
After opening today's session flat from last week, shares began climbing steadily as we first began hearing rumors that such a development could be announced. As the WSJ confirmed the headline, however, shares of the fund jumped, adding another 8% to today's upside. The stock most recently traded at $7.25, up more than 27% today.
After opening today's session flat from last week, shares began climbing steadily as we first began hearing rumors that such a development could be announced. As the WSJ confirmed the headline, however, shares of the fund jumped, adding another 8% to today's upside. The stock most recently traded at $7.25, up more than 27% today.
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