It might be over for now, but, I am hoping for some consolidation here before the next leg up just before earnings in early December. Typically in the past, this stock would sell off after a quick spike; I am hoping that is not the case here and we get consolidation.
Made over $70k this month on MLNK trading thanks to flash market research (google them) I get my stock alerts from them. They put out a report on the S&P 500 a few months ago and were SPOT on. Good luck all longs
I included dividend and reverse split 1:10 . I was buying under 3. I just new sooner or later it will shoot up. The bad news I started selling whatever I bought under 3 from 3.50 and my last sale was today at 4.51 The good news I have plenty of shares left to enjoy nice profit and close my 14 years long project. It might have a some pull back. Went to fast, I think. But you never know. I will not trade this anymore. I will gradually reduce my shares if price will continue to go up. Good luck to all long timers.
Did you remember to include the one-time dividend in your calculations?:
On March 7, 2011, the Registrant issued a press release announcing that the board of directors of the Registrant had declared a special one-time cash dividend of $0.9134 per share of its common stock, or $40 million in aggregate. The dividend was declared on March 7, 2011 and is payable on March 31, 2011 to shareholders of record on March 17, 2011
That reduced my average holdings by 91 cents/share, but I was able to drop it some more by buying shares when it was trading for $2.20 - 2.90 back in Jan & Feb this year. It was actually trading in the $2.70s earlier this MONTH, but I didn't have the brains (or money) to buy more.
Today I am break even at closing price. First time since march 2000. Bought in November 99 at 100 .then it went to326 in January. Then it split 2:1. Then it was 150 post split. Then .......... But now after 14 years of trading this thing, I am even with bunch of shares left. Time to celebrate.
Agree as well. More upside left.
I think it's also possible that they are going to use the loan to buy a company to fold into MLNK. If they can find a profitable one, with MLNKs tax loss carryforward, it would most likely be accretive to their earnings.
I sure wish sobithongie was still around. I recall some of his musings on the net operating loss back in the day.
I've been thinking they would report some open market buys, and I've been watching the filings. Tonight's filing does not appear to show any new open market buys, BUT it does show some activity on their part. Here's a clip:
This statement reports an aggregate of 16,097,197 Shares, including 2,000,000 Shares underlying currently exercisable Warrants, constituting approximately 30.0% of the Shares outstanding.
This part is also of interest:
On October 23, 2013, Steel Holdings and SPHG Holdings entered into a Credit Agreement (the “Credit Facility”) with PNC Bank, National Association (“PNC”), as administrative agent for the lenders thereunder. The Credit Facility provides for a revolving credit facility with borrowing availability of up to a maximum aggregate principal amount equal to $50 million. Obligations under the Credit Facility are collateralized by first priority security interests in certain assets, including publicly traded equity and debt instruments of Steel Holdings and SPHG Holdings, including the securities of the Issuer...
So it looks as if Steel is borrowing against their stock holdings, perhaps to leverage their MLNK position, or use the funds to buy more shares, or use them in their other businesses. The filing date is as of Oct 23, so it's also possible that Steel has been making some open market purchases in the last few days. I believe they have something like 2-3 days to report buys, so we should know soon if that is the case. At any rate, things are getting interesting here...