There have been some disturbing news on Iron Mountain Inc (NYSE : IRM). In the recent released 13-F filing, Buffett's Berkshire Hathaway announced the liquidation of its entire stake in the company as of September 30. Hathaway had earlier in the year added 205,200 shares in taking its total Iron Mountain holdings to 8 million. This sale is an undeniably unwelcome development at the data and document management outfit, which report some uninspiring results in its recent quarter.
Looking at the technicals, the company shares seems to be trading at the top end of the range. This shows that it is probably a little over-bought. Buffett's holding of Iron Mountain Inc was one of the reason why we went into this stock too and now this reason is no longer valid.
It's time to get out.
Sell Iron Mountain Inc @ $23.38.
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