Yep, I hear you about the 'morgue' phrase. Agree the company is finally on the right track! I've been in/around this stock for a long time myself.
I rode it down and back up because it was inconceivable to be that it could even go as low as 1.13 not that long ago. I cant understand why people would be selling for way less than where the ceo is buying. Don't they bother to look at the sec filings?
I try not to predict stock prices but it wouldn't surprise me if all the fast money buyers became fast money sellers and moved on, resulting in a pull-back from the $3 level. In terms of the Chairman's Letter I never understood the rationale of the letter preceding the annual meeting, but noticed it hasn't been published yet.
My sentiment is the stock is very undervalued, and if the price pulls back so be it. As Popsdu says the company is 'finally its on the right track' and I'm not selling my shares this low.
You mistake my meaning.
I also believe that GV will go higher in time. I simply believe that it has gone to far up to quickly. I am not a great believer in charts but look at a one year chart and tell me that GV is not wildly overextended over the last few months. I just believe that that I can buy the shares that I sold cheaper in the future if I choose to do so.
You are also counting your chickens before they hatch with the 8 cent earnings next quarter. I am thinking something like 6 to 8 cents next quarter, so I have no problem seeing them earn your 8 cents next quarter, BUT I also understand that the history of the company is one of erratic earnings. The company's history is that its earnings are splattered all over the place. I think they will have good earnings for this quarter, but I also do not overlook the possibility that their earnings will be poor or even a loss. Their history is erratic earnings like that.
In any case, I purchased my shares in the $1.60's some time back and selling half today made me some nice change.
Don't talk about morgues. I don't want to think about it. I've been in and out of this issue for 15 yrs and I think finally it's on the right track and ready to be recognized for the incredible job that's been done reinventing the company. What a long strange road of more than 100 years for Goldfield. Thought about going to the meeting, but it's too humid down there. I don't want to be in the morgue, only the golf course clubhouse.
Last year we saw a letter from Mr. Sottile in late April, it appears that he is waiting for the annual meeting scheduled for June 2 to deliver his comments. Only five trading days until the Annual meeting. Any prediction on what the stock price will be by then?
The price of this stock is still low. If next quarter’s earnings were 8 cents and GV had an 8 cent average for the year, then 32 cents at a PE of 10 is $3.20. This stock will go higher.
I think it has come too far to fast.
I keep half though in case it goes higher. I think I will be able to buy back the shares I sold today cheaper and I intend to do so If I am right. It just seems to me that we are getting this last spike today and yesterday because of this Tran fellow bringing in day traders.
Look at today's volume and price action. Gaped up 5 cents to $2.88 at the open and and then closed only 4 cents higher @ $2.92 on volume of over a million shares. Basically every one that bought and held to the close is in the red. Pure day trader action.
If I can't buy back the shares cheaper before the next earnings release, I am pretty sure I will be able to do so after the release. I absolutely do not see last quarters earnings being repeated which will means disappointment on unrealistic expectations not being met. That should cause a selloff as the traders and short timers exit and let me buy back my sold shares cheaper. (but still kept half because ya never can be sure of these things)
GV went back down because their Texas contract work encountered torrential rains which caused delays and losses under that contract. Since then their was a management “correction” and a bigger emphasis on obtaining a core of stable maintenance contracts plus an acquisition. GV now has a plan which they have been executing very well for the past 4 quarters. The future is rosy.
Seeking Alpha article that identified a collapse in the backlog (post 100mm STEC project) and a nasty little thing called Fed income tax at 35%, which the company enjoyed not paying because of tax loss carry-forwards that ran out after the RE collapse.