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I believe someone with deep pockets recognizes the value here and is trying to establish a position. FLXS crushed expectations last quarter and with housing coming back, this company should do very well going forward. The float is so small, that the only way to get in is to pay up. JMHO
Stock was also up big yesterday on a down day. I still think it is someone with deep pockets trying to establish a position in this company. With low float, the only way in is to pay up. But the underlying value is still there despite the recent run-up. Look at what LZB trades at. No debt here either, very conservative.
I believe there is more to it than that.
Today, $2.5 million worth of FLXS traded. This is the 11th highest dollar-volume day EVER for FLXS (going back over 23 years, according to Yahoo! Finance records)!
Furthermore, 20% of the day's shares traded occurred in the final 10 minutes of trading, and 15% of the day's shares traded occurred in the final 5 minutes of trading. Despite the fact that the stock, by 3:50 P.M., had already climbed 10% on the day, somebody was VERY interested in buying the stock before the market closed for the day.
I think all of this points out to some material information to be released prior to the market opening tomorrow morning.
Sentiment: Strong Buy