Going dark will not do one iota of good for shareholders and given their track record they have no interest in their fiduciary duty. Deregistration reduces
the liquidity if the stock making it harder to both buy and sell and this will destroy the stocks value even more. Just watch. For a preview just look at the market cap now. Pitiful.
I agree with all the above and it would show clear negligence and abuse of power if they get rich while retail loses. So if they have any ounce of integrity I hope they are doing this for the greater good of all the stock holders.
Weak hands? This was an orchestrated destruction of retail and shareholder value. Every single
action taken by management has destroyed the stocks value 1) reverse split 2)failed equity offer
(cut the stock value by more than 50% 3) 1 and 2 led to failed maintenance of listing 4)
withdrawal of wider indication 5) announcement of deregistration and going dark just before
they will announce 1st quarter possible better news from Abbot's involvement. Every single
VOLUNTARY decision by management has eroded shareholder interests. This looks intentional
as well since the outcome of these kinds of actions are easily foreseeable as negative.
They spin this as saving money but you do not see management taking ANY cut in salary, do you? You can bet there will not be any CC. Settling of accounts with management might be the only
option left to retail shareholders.
Does latest filing mean that management will not have to publish 1st quarter results, effectively limiting everyone's ability to determine actual sales or revenue from Abbott?
I had a old traditional IRA I used to invest in this stock. Which now is almost worthless so it has allowed me to rollover to a ROTH now without hardly any penalty :-)
So now the stock needs to take off and I can have my money tax free :-)
LOL I had to think of something positive for this stock being in the can.....
Just seems funny how this isn't at 0 where I thought it would be after that announcement.... SO hopefully something positive for the retail holder will happen in the near future...
FYI if they take this private for a few pennies and then become rich I feel some good jail time is in order and hopefully they get taken advantage of like we have been till they bleed and can't sit.
I got to say this has been a trading lesson a little on the expensive side so far. I can only hope I learn from my mistake.
Not sure small retail holders will have much of a choice as the stock becomes iliquid if you are left holding the only bag. Already the number of stakeholders is dwindling after this latest announcement. The insiders were most likely doing most of the buying yesterday. The bid/ask price yesterday suggests there were plenty of willing buyers. For a PS stock to have such a tight bid/ask was very unusual.
Next logical step to complete the heist is for a management buyout. Insiders can buy without the concern of reporting. Goodbye SEC ownership disclosure forms. Once done with their stealth buying they announce a management buyout of the remaining hold outs for pennies. Otherwise, one has to believe nothing nefarious in going dark but a genuine cost saving measure. I still see Noubar holding his 1.2 million shares ( maybe I'm wrong on that?).
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That is a good question - I myself bought a few shares but only in hopes we don't know the full story yet. Probably a dumb move but what the heck I have already lost a good amount so for a few pennies I lowered my avg cost. But there was a lot of shares that changed hands today and I am curious who else was buying.
Since there is less than 300 owners I would say the majority of retail is on this board. Did anyone else pick up shares today?