Monday, May 08, 2006

BlackRock jackpot

It has been a long and joyful ride for BlackRock Ventures (TSX:BVI) shareholders, but today caps off the bullish trend with a cherry. Shell Canada has made an offer of $24 share for BVI, putting the buyout at $2.4-billion. The stock jumped on the news today and is now trading at $23.75, up 26% from Friday's close. Stock Trends followers will remember BVI's breakout in early 2005 as the stock was a Pick of the Week and a Stock Trends Portfolio buy on January 13, 2005 (at $8.80). That trade was stopped out at $9.22 on some volatility, but BVI has remained bullish through the stocks rallies and retreats. For those that stuck with BlackRock there is good reason to celebrate today.
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