They bought back a million shares during the quarter....when there's only 25 million or so in the public float!
I'm not selling a single share more until we see $3-4.
If they can get a refi off, later this year, and lower their rates substantially, the equity could climb to $4-6 again.
This thing is susceptible to a MASSIVE short squeeze, in my book, based upon the fantastic earnings...and the fantastic guidance. Any perception of solvency risk here just TOTALLY vanished, with this earnings release.
Unfortunately I sold some around $1 but still have a good amount left.
I think this stock isn't on anyone's radar screen yet and in my opinion has a lot more room to run. Seems like a good amount of buying/covering post the earnings call. Lot of momentum here and I remain very bullish...
Business is doing well and if they are able to refinance the 12% sub notes and save 400bps on $300M+.....That's $12M+ in interest savings a year. Could easily start getting back into the positive EPS territory based on current run rates.