Vimicro International Corp. (VIMC) – Letter of Intent with LangChao Prompted Original GeoTeam Position
We sold our long positions, locking in gains. In our 9/9/2014 call to action we stated we were buying VIMC based on the letter of intent with LangChao, an IT service provider in China. We will revisit on pullback. Without any on the ground due diligence, we feel locking in profits after recent 60% run is prudent.