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National City stock

October 24th, 2008 at 01:55 pm

A while back I bought some National City stock because the price was too temptingly low to pass up. Now, they a being acquired by PNC bank and NCC shareholders will get 0.0392 shares of PNC common stock for each share of National City.

I sold 100 shares of National City last week, for a small profit of $75. I still own 100 shares, so it looks like I will be getting a paltry 3.92 shares of NCC, worth about $175. That's about half what I paid for the 100 shares. Oh well. You can't win them all.

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