On Friday, Mercer International (MERC:NASDAQ) spiked 10%. It is now quite near to the price when I purchased it, and I think the time has come to exit this investment. There is nothing wrong with the stock, but the thesis just hasn’t played out as I thought it would–or at least not in my timeframe as an investment. One day, there will be an extreme shortage of NBSK fiber, but for now, I’d rather have my capital for other ideas. Therefore, I will be closing out this idea with a small loss based on Friday’s closing price.