Refocus Group Receives FDA Approval

Refocus Group (RFCG.OB) stock jumped today on news of an FDA approval to allow the company to initiate the final phase of a clinical trial for their surgical treatment of presbyopia. As you might remember, I purchased shares of Refocus group for my son’s Coverdell ESA and my Roth IRA earlier this year. The stock actually hit $0.35 a share today, which is also the going private tender offer price.

I wish I had sold my shares today for $0.35 a share, since it would have increased my annualized rate of return. I put in a limit order this afternoon to sell my shares for $0.35, but I don’t think that this order will be executed any time soon. The lesson here is to remember to place a limit order at the tender price to sell the stock of a company going private just in case a spike in price occurs like it did with Refocus Group today.

One lucky reader, KJ, was able to sell out for $0.35 a share after adjusting his order. KJ noted my previous post regarding problems with odd lot orders, and so he changed his order from 1,990 shares to 1,900 and quickly sold his shares. I’m glad that KJ and other readers were able to profit from my previous experience.

6 thoughts on “Refocus Group Receives FDA Approval

  • August 25, 2005 at 10:29 pm


    Count me as another lucky one. I sold my entire position for $0.34. In these going private deals I have put in a GTC limit order to sell each stock a few percentage points below the tender price right after I buy it. I am always willing to sell and leave a little on the table to get a ‘sure’ thing since you never know when good news might affect a stock you own.


  • August 26, 2005 at 8:59 am

    George, a few corrections:

    Your lucky reader KJ is actually a ‘He’ not a “She’;-)

    I would have sold at $0.33 if there had not been the odd lot issue. When I changed my order to 1900 shares I was actually able to sell at a higher price of $0.35.

    I like the suggestions above made by NoordelijkOranje. I am going to put limit order in for my other trades as well. Thanks.

  • August 26, 2005 at 7:27 pm

    Sorry about that KJ. I’ve updated the post above with your appropriate gender :-) and Refocus Group selling price. Good job getting that sell order for $0.35.

  • August 29, 2005 at 5:04 pm

    I sold 1900 at $0.36 today and am holding 99. Thanks for the tips.

  • August 29, 2005 at 11:10 pm

    I also sold my share today as well. It looks like we all got an opportunity to sell our Refocus Group shares!

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