Excellent news. In addition to the index fund, lots more mutual funds will add CLCT. I'm guessing $22 or $23 within a few weeks and $25 later in summer
That's a great news hoping it will turn into a meaningful rise for the stock in the coming two weeks. What are you expecting dbtunr? $28??
If it's going into Russell 2000 I would think some would know and there would be a bump higher before the market closes
Indians are big on gold but not necessarily coins. They like the bars (they call them biscuits) and 24k jewelry. They gives brides jewelry like we give cash.
Based on market cap they would get included, so I hope you're right because I think it would hit the targets that we were thinking. We'll know soon enough. Also, I would guess that the big difference is from the China coin market. Do you know about India? Are they involved yet with Collector's Universe?
Looks like the recent sales by Hall and Simmons have reduced the percent of shares owned by insiders to under 30 percent which may be low enough for Russell to include CLCT in the index - 70 percent of the $185 million market cap is still a healthy $ 130 million or so in public hands. And insiders will probably continue to sell as they diversify their holdings into other assets.
Thanks for posting more info on this. From what you're posting it's not a guarantee that CLCT gets moved into the Russell 2000. We'll just have to wait and see
Please note that, aside from market cap, Russell does look at other factors, among them:
[from the Russell website]
Adjust shares outstanding for cross ownership and privately held shares to reflect shares available for trading.
So in an ironic way, the recent sales by David Hall and Van Simmons may help convince Russell that there are enough CLCT shares in public hands for index trading.
Thanks dbtuner. It sounds like CLCT will definitely be included unless the market cap flies higher than $180M, which sounds very doubtful. I can see why you're confidant they get included. This is great news and should get CLCT into a lot of mutual funds once they get included, which in turn should help share price. Maybe it can rise towards $23 on the news and towards $25 this summer