IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Thursday, June 30, 2011

Yes, last Friday was a good time to buy SWAN shares

On Friday last week after Saab had announced that it was unable to pay its employees the wages for June, I asked the question if it was a good time to buy shares in Saab's parent company Swedish Automobile NV. Now one can safely conclude that the answer was YES.

Since Friday last week Saab has announced that it has secured funding of EUR 66 million, enough to both pay its employees and to continue discussions with its suppliers to restart the car production. And the stock market has responded by sending the SWAN share up from EUR 1 on Friday afteroon to EUR 2.50 today. That's a hefty 150 percent rise!

Unfortunately I did not take this great opportunity. Did any of you?