Paulson Gets Small Victory with This Stock...
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Despite the drop in gold prices that's hampering John Paulson's holiday season, there is one bright spot...
Normally sparsely-traded SuperMedia (Nasdaq: SPMD) shares are ripping higher Thursday, now above the $2.75 level, with plenty of volume to boot. For the quarter ended September 30, Paulson disclosed having a 16.8 percent stake in SuperMedia, or 2,607,504 shares of its common stock.
Though obviously not enough to make up for the drop in gold, the shares have seen some good appreciation over the last few months. From a close of $1.55 on September 30th, the stock has surged over 170 percent to a recent high of $4.24.
With his holdings, that amounts to a $7 million paper gain, though shares have since eased off the high. It's not much, but with Paulson's Advantage Plus levered fund down about 46 percent in 2011, its the little wins that add up.
Normally sparsely-traded SuperMedia (Nasdaq: SPMD) shares are ripping higher Thursday, now above the $2.75 level, with plenty of volume to boot. For the quarter ended September 30, Paulson disclosed having a 16.8 percent stake in SuperMedia, or 2,607,504 shares of its common stock.
Though obviously not enough to make up for the drop in gold, the shares have seen some good appreciation over the last few months. From a close of $1.55 on September 30th, the stock has surged over 170 percent to a recent high of $4.24.
With his holdings, that amounts to a $7 million paper gain, though shares have since eased off the high. It's not much, but with Paulson's Advantage Plus levered fund down about 46 percent in 2011, its the little wins that add up.
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