The symbol change becomes effective tomorrow. The announcement also states: The changes reflect the Company's on-going efforts to transform itself from a single revenue stream-hog farming-to a well-diversified company through targeted investments and acquisitions in selected higher growth industries such as equipment manufacturing, optoelectronics, new material & new energy products, electromechanics and healthcare devices." Naming these very specific industries is indicative of what we should expect next. It also indicates that the OINK financials must be improving in a very significant way.
paying higher and higher prices if they knew the price will go down? That is not how the insiders operate. They buy when they see greater potential, good prospects, improved financials and higher earnings. They buy because they seek and see profits. Are you also seeking profits? Or you just like to have an OINK Burger.
I only got partial fill of 1874 shares. You must remember that the price fell by 10 cents on around 6800 volume and 13 cents on total of little over 14,000 volume. So there were no sizeable stop losses they could trigger. They may try again on Monday and take it even lower. You should sell if you are scared and buy if you have faith in good earnings results.
We have scant information and little information about the newly acquired company which has also resulted in the name change. But from what I can ascertain this is supposed to be a profitable venture and most likely a trend in investing in multiple areas rather than the hog business. I expect OINK earnings to look good and the new company is supposed to be already profitable this year. These guys paid between $2.00 to $2.40 per share to take a stake in the company and their deal prices OINK shares at around $3.00. They now basically run the company and are executing their plan of diversification. Personally I don't like these developments but I can see the reasoning behind it and it may turn out to be a very profitable strategy. I will decide what to do with my position after the earnings. Most likely I will significantly reduce the size mainly because despite the greater potential, the risk as well as the time factors have also changed and I no longer expect a merger/buyout very soon.
I don't like the change either and we could certainly use more information. But recent trading is pre-earnings downward push which I had expected. I added shares below $1.90.
I will also write to Tina.
Most importantly, I think they need to give detail explanation on what is the plan on our core business. Basically, who is going to handle Hog business, what will be the Ms. Li's role, what is the plan Retail Market for Black Hogs.
Technical support: $1.76 Agreed, not first time they left us hanging. We are taking a beating and it won't get any better soon.
I am contacting Tina at investor relations and asking for additional information about the newly aquired assets of the company. Also asking her to consider asking management to provide past results..bottom line info..that would give us some idea of the direction and future earnings ahead of us.
Huge price swings on such low volume...I feel like we are in the dark....and that there is no need for it.