Yet another all-time closing low today. Questions come to mind: Is this the bottom? Is now the time to pull the trigger to benefit from a Dead Cat Bounce? A friend once told me that trying to bargain hunt a stock in freefall is sometimes like trying to catch a falling knife.
Perhaps another question is: how much longer will the board of directors tolerate this situation? Or perhaps they will ride this dog all the way down to delisting.
Given the recent plunge and mini dead cat bounce that followed, it would appear that the new trading range for AMRI will be settling in around $2.20 to $3.50 AMRI will probably hang around that range until the next big plunge.
I can't claim to know the CFO personally, but I really don't think it would matter if the guy was a financial genius (and if he was, why would he be working for this outfit?). Tommy only listens to the voices in his head. AMRI was a one-trick pony. Everyone I know that can leave has left, and the rest are hoping for a miracle to happen. I don't believe in miracles. Stand by for the final countdown.
mcdambras: Here in Denver, I have a drinking buddy who is a fund manager for one of the big firms in town. My drinking buddy has heard some stories about the CEO from other investors, although they are second hand accounts or beyond so he takes them with at least a grain of salt. Still, when there is smoke, there is fire. Among other things, the CEO has a reputation for exuding arrogance and becoming visibly irritated when he does not like investor questions. (Given his reputed tells, various investors were hoping to bump into the CEO at the Poker tables in Las Vegas.) My buddy said various investors think it was a good idea that management convinced the CEO to disengage from meeting with investors because he is too emotional and that is not his area of expertise.
Your recent comments about sycophants surrounding the CEO seem to be consistent with some of scuttlebutt shared by my drinking buddy. Should we assume that the CFO also falls into that same category? In general, you seem to know a lot of the people at AMRI which gives you valuable insights into the whole situation.
29 Nov, 2011: all-time closing low of $2.09 and all-time intraday low of $2.08
Tommy's wife Connie has a stable known as Trade Winds Farm, and they own a number of horses. This article mentions one called Obelix.
It's his money, of course and he can spend it as he pleases, but there is more than a whiff of Nero fiddling while Rome burns about spending money on such frivolous pursuits whilst his company goes down the drain. Oh well...
Sorry I stepped away for the holidays. Since the last time I posted, the following events took place
22 Nov, 2011: new all-time closing low of $2.17 and all-time intraday low of $2.16
23 Nov, 2011: new all-time closing low of $2.12 and all-time intraday low of $2.10
25 Nov, 2011: new all-time intraday low of $2.09
mcdambras: I will put you down for May 2012 as your delisting month choice in our pool, which is similar to those Super Bowl boxes that you see in bars. I have selected November 2012. btw, I suspect that various people on this message board seem t be sharing an inside joke regarding the CEO as I see various references to ponies and horses. Please explain.
AMRI Closing Price On 21 Nov, 2011: $2.23
That is yet another all-time closing low and the stock also reached another all-time intraday low: $2.19 Who wants to start a pool on the month/year of delisting? mcdambras picked Summer of 2012, but he will now have to pick a month. I want to bet on November 2012.
I predict delisting by the summer of 2012. I still have a few of this company's shares. How I wish I'd dumped them back in 2008! I know some of the folks who work there. All the best people are leaving in droves, or have been laid off because the company can no longer afford to keep them.
AMRI is like a car being driven over a cliff by a blind man on crack. Get out before the place goes bust!