The lows on the chart are $21.93 on June 4 and $22.33 on May 17.
Mr. Soros had 2.5% of Soros Fund Management's disclosable portfolio in WPRT as of June 30 (thethird quarter13F is due by Nov. 14) inclusive of a 40% increase in the second quarter that brought the position to 4.13 million shares.
We have a love/hate relationship with the stock. Back in May with WPRT trading at $30.00 it was:
Soros-backed Westport Innovations Making Major PR Push (WPRT)
We like the industry but take a jaundiced view of hype-n-tout.We have dozens of posts on WPRT, use the search blog box if interested.
Today the pitch is "Westport to Ring NASDAQ Closing Bell and Holds Investor Day in New York May 24th".
This follows the May 9 earnings release: "Westport Innovations falls on wider-than-expected loss".
Combined with their largest customer, Cummins, developing its own natural-gas powered engine you get a bear-went-over-the-mountain looking chart...
The company is based in Vancouver where the Vancouver Sun does a a marvelous job of covering the city's business scene. One writer in particular, David Baines, has impressed me over the years. Here he is on WPRT May 16:
Westport Innovations' share price sputters
Investors in $273-million February share offering now have sharply devalued stock certificates
In February, Vancouver-based Westport Innovations Inc., a developer and manufacturer of natural gas engines, sold $273.6 million US worth of shares at $43.25 each.
About the same time, West-port founder and CEO David Demers made yet another promotional appearance on Jim Cramer's Mad Money, which is exactly how I described this gambit by Westport investors.The following month, the stock peaked at nearly $50 on the Toronto Stock Exchange. It has since slumped to half that price, which means investors who participated in the February offering have lost 42 per cent of their money.I'm not kidding about Baines. Here are some of our posts on one of the scams Vancouver
The problem is that Westport's efforts to establish itself as the leading company in the natural gas engine field have been neutralized by an ever-receding profit horizon....MOREiswas known for back in the day...
