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Medallion Financial Corp. (TAXI) Message Board

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  • bufordbagsworth bufordbagsworth May 16, 2012 10:36 AM Flag

    Stock Offering

    Don't think so. The price is the price and if it sells off afterwards so be it.

    With only 18 million shares outstanding a secondary offering of 3.3 million is huge, hence the discount and sell off.

    In any event it's a chance to buy TAXI on the cheap.

    I've got orders in from $10.21 on up.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I need to pay closer attention to my investments. I didn't know this offering was coming, it's obvious that it would be priced at a discount and knock the shares down 6-7%, I snoozed and missed the opportunity to sell ahead. This drop on the other hand is an opportunity I am not missing. I already have doubled up and looking for more.

      I am wondering, are you sure it's wise to set your offers so low? You might end up missing out trying to save a couple bucks. I expect TAXI to go to the $10.7 offer price soon.

      • 1 Reply to navkram
      • The offering was announced this week and hit the market within a couple of days so everybody got blindsided. I was kicking myself for selling last week in the $11.40 range when it later ran to the $11.80. Better to be lucky than smart.

        Anyway when I saw the news pre-opening I placed about a dozen day orders ranging from $11.21 to $11.45. About half have filled and the rest are still open.

        Finally, I agree the stock should recover to the $10.70 - $11.00 range in the near term.

 
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