Let me start off by saying that you all are smarter than me, but if you ask me, this stock looks a little rich. Super levered. Trading at a higher expected EV/EBITDA versus where similar companies have traded - doesn't look like the expected EBITDA is going to be realized...a concern for an overly levered company. Weaker than expected earnings this quarter pushed the stock to 12.15 on 5/8. Now word that a NY hedge fund manager has a stake in it launches the stock price to over 15. Combine that with 15mm shares sold short, Ron Perlman indirectly owning 34mm shares, top 10 institutions holding 31.49mm shares, a share count of 85.82mm shares, a float of 36.7mm shares, a 3 month average trading volume of 1.28mm shares, and 72,839 contracts written on the 15 call for months June to January, and I think that we are getting ready for some interesting price action. Hello volatility!
MNGA is major trading news after confirming the sale of its MagneGas® to two major buyers based in the US. Both buyers could buy more of MagneGas® which means huge growth potential for MNGA.
With the large powerball jackpot, and the few extra bucks at the gas pump, slot machine sales, This stock could take off someday. It is all up to the management, which has lacked for how many years now? Investyourbuck