A closed-end fund designed to profit from the end of the U.S.’s 53-year-long hissy-fit in Cuba’s direction—one with the enviable ticket symbol “CUBA,” no less—seems like a reasonable play following the president’s decision yesterday to normalize relations with our estranged neighbor. An energy-drink purveyor with less than $10,000 in sales last quarter that was trading for 1.59 cents on Tuesday afternoon, and absolutely no link whatsoever to certain islands 90 miles off the coast of Florida but which contains the magic four letters, in the correct order? Well, why haven’t you placed that buy order yet?
The stock, which trades over the counter under the ticker CUBV, was recently up nearly 140% to 3.8 cents a share. It closed Tuesday at 1.59 cents per share, according to FactSet. As of 1 p.m., more than 420,000 shares had changed hands, making Wednesday its heaviest trading day since August–with several hours still remaining.
Cuba Fund Rallies After Obama Vows to Resume Diplomatic Ties [Bloomberg]
Cuba (the Energy Drink Firm) Soars 140% on Cuba (the Country) News [WSJ MoneyBeat blog]