FORD is undervalued. Therefore, buy and wait until it is at least $ 2. The easy way to make money. The risk that it falls further, is low. I have stocked up. Rate the person you want to earn the money to act the same way.
Sentiment: Strong Buy
Maybe, but it would benefit Wise to keep the share price depressed prior to this event and with his significant holdings and the low volumes traded, he could sell into any purchase program to achieve that goal. A low price means unhappy shareholders.
Beware of the shareholder's voting for the Board, so far there has not been any insider buying, but once the meeting is arranged or at least right before the meeting takes place chances are that both Mr. Wise and the actual Board will try to increase their share in the open market. Of course, it does not make senise to show your cards too long in advance, when the date is not even known yet.
This fact was already pointed out by bespoke2013 a few weeks ago, however, I can imagine some other kind of fireworks. Back in 2002 and 2004 the Board authorized repurchasing 486200 Shares, from which only 172603 have been bought so far. The Board is aware that shareholders are angry and blame them for not creating shareholder's value. What about pumping the price a bit with share repurchasing (up to over 300000 shares they can still repurchase) right before the meeting, after all, the share is under net current assets (1.32 per share), so using cash to repurchase would actually increase have a positive effect on the balance sheet (buying 1.32 USD at 1.21 USD sounds like a good deal to me). This could surely buy them some support from minor shareholders. The meeting must come in the next few weeks, so chances are that FORD will have a nice end of summer.
Sentiment: Strong Buy
Shorting a net-net sounds like a great idea. In fact it sounds so geat that I decided to back-test the idea of shorting net-nets and the miracle occured: from everythin I ever tested this was by far the worst system ever. No matter when I set the starting point in the last 15 years, using a diversified portfolio of 10 positions, the system is so bad that it manages to lose 100 % of the money within just 12 months... remarkable indeed (you wouldn't make it so bad even if you tried). In fact, your system is so particularly awful that you should seriously consider doing the opposite of whatever it is you want to do.
I agree and remember that Lagrange's brother runs a hedge fund that had a big holding at one time. Both parties have adgenda's that's for sure but certainly it's to Lagrange's benefit that the share price remains strong if he wants to hold on to control of the company.
I'm still confused on why Wise even sued in the first place. He obviously thinks they're trying to do some type of dilutive financing so they can keep the current Board, but until they actually do something like that (and it would be a breach of fiduciary duty) I don't see what case he can make at this point. Unless it's just a shot across the bow to let Lagrange know he's serious. I don't trust Lagrange at all and the fact the CFO sent a letter to the Board saying his name had been forged on some document sent to the SEC for a capital raise and then magically Lagrange says they were submitted in error is a big red flag.
But like I've said before, this saga is going to benefit shareholders and especially over the next month as both sides will probably be buying shares on the open market to influence the vote.
Sentiment: Strong Buy
It's getting very nasty with this latest lawsuit, I hope they don't waste too much money on this fight, most of the time the lawyers are the only ones to profit The one thing that's encouraging is that they obviously see a future for this company or why fight for control?
If for no other reason than Lagrange sold all his stock back in February. At least Wise's interests are aligned with that of shareholders. Lagrange and the current board have no equity incentive so they will continue to pilfer from shareholders. $10k a month for office space in New York when everything else is based in Florida or overseas? And then we find out Lagrange's company is the one who owns the property? Give me a break. Not to mention the several hundred thousand dollars Lagrange lost the company through an investment in his "fund." Don't let the door hit you in the #$%$ on the way out.