Here are three sells for you to act on now

Article Excerpt

Long-time readers know that we are constantly re-evaluating our stock picks for you. Here are three companies that we now feel fall short of offering you the kind of high-growth prospects TSI Power Growth Investor aims to deliver our subscribers. We now see all three as sells. DELPHI ENERGY $0.66 (Toronto symbol DEE; TSINetwork Rating: Speculative) (www.delphienergy.ca; Shares o/s: 185.5 million; Market cap: $12.5 million; No dividends paid) explores for, develops and produces oil and gas. The $171.3 million in long-term debt is a very high 15.4 times Delphi’s depressed market cap. That’s a major risk factor for investors. While the company has taken several steps to extend its repayment deadlines, it has also raised $28 million in a share issue. That is dilutive to current investors. In addition, it has issued $15 million in new debt. Delphi has now consolidated its shares on a 1-for-15 basis. Consolidations, or reverse stock splits, typically hurt investor confidence—especially with struggling companies. Other times, consolidations have little, if any, effect. All in…

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