CIB - Why I Sold Half Of My Bancolombia Stock
Earlier this month, I sold half of my long-standing position in Bancolombia (CIB), which is Colombia's leading banking franchise. I originally bought CIB stock back in 2015 at $37/share and wrote a Seeking Alpha contest-winning article explaining my rationale.
As it turned out, I was a year too early - the stock eventually bottomed in the $20s the following year as oil finally put in its bear market low. Since then, Bancolombia stock has been in steady recovery mode, and recently hit new five-year highs up at the $56/share mark.
With a nice-looking