It's not unusual. EVEN BIOS OCCASIONally trade near cash, look at CNDO.
Bison Capital Holding Co Ltd is bullish on AirMedia Group Inc (ADR) (NASDAQ:AMCN). In a recent filing with the Securities and Exchange Commission, the fund has disclosed the ownership of 16.2 million shares, which represent 13.5% of the company's common stock. Bison Capital entered a share transfer agreement with Global Gateway Investments, Ltd and has acquired 8,100,000 American Depositary Shares, or 16,200,000 shares, for a price of $14.58 million.
Under the terms of the transfer contract, Bison Capital has agreed to purchase shares with the condition that Mr. Qunyao Gao and Mr. Peixin Xu be appointed directors of the company. The fund, however, does not intend to pursue any further actions that would interfere with the management of AirMedia Group Inc (ADR) (NASDAQ:AMCN).
According to our database, AirMedia Group stock is rather popular among top hedge fund managers. Driehaus Capital, run by Richard Driehaus, holds 1.86 million shares, up by 7% during the third quarter of 2013. Driehaus Capital's stake is reportedly worth $3.2 million. Charles Clough has also been buying this stock, increasing his fund's position by 6% during Q3. Clough Capital Partners reported in its latest 13F report the ownership of 1.25 million shares valued at a little under $2.2 million. Renaissance Technologies and Jim Simons have also been interested in this stock, increasing their stake by 6%. Renaissance currently holds 406,300 shares valued at $715,000.
And a bit of digging into the bios of the proposed directors:
Dr. GAO Jack Qunyao (“Dr. GAO”), aged 50, is currently the director and chief executive officer of STAR (China) Ltd. Dr. GAO is also the vice president of News Corporation (the ultimate holding company of Xing Kong Chuan Mei Group Co., Limited, which is a substantial shareholder of the Company) and chief representative of the News Corporation Beijing Representative Office.
It will happen within the year, and then ill have to find this post and BUMP it so people can see we were talking about this at 1.70.
like the man in the mirror, why are #$%$ are you here then?? whats your price target? while your at it, please answer why VISN spiked....
Other companies that have exploded dont look as good as AMCN on paper...this is next. HOLD ON. 1.70ish range...looking for $10/share minimum
Sentiment: Strong Buy
I checked out the CTC. The cash and book values are very similar to AMCN. It seems however that the bigger the POS the higher and faster they move. Shorts keep piling in in disbelief and before they know it, they have become very religious and pray constantly for a pull back. CSUN may be one of these next week. The chart looks GREAT and the company is a HUGE POS! Also a china play and in the hot solar sector.
There was some stabilization and buying in AMCN at the end of the day, lets see if this can continue this week.
Privileged individuals can see your individual MMID. Your MMID tells the origination of the trade. Once you know that, its like playing poker counting cards or with a stacked deck. They know the likely hood and time frame of who's buying. Once established, they relentlessly sell the stock. NOT hitting bids just selling and capitulating longs. Capitulating longs is what's driving down the stock. Once they drive it down the re-establish a relentless offer. What makes it interesting and how it works is the price. For me it became non-marginable. I assume this happened to many others and forced selling occurs just like buy ins on a short squeeze.
Company has a much better balance sheet and prospects than VISN! Nobody would short a stock that has $1.90 in cash, no debt, $3.80 book value and trades at $2.10. Only reason, who ever is doing it, knows there's going to be forced selling. Otherwise, if the stock returned to $1.80 with the light volume, they could never get a chance to cover.
I got caught in a pump and dump!