Come November Reported 12 Month Earnings Will No Longer Be Negative
This will be another catalyst for this stock to go up. Currently a casual investor might look at this stock and get scared off by the -$2.35 earnings, not realizing that this is due to a huge asset impairment and not an actual yearly loss. Some institutional investors might also be prevented in investing in this stock, due to asset rules that prevent them from investing in stocks with negative earnings.
Since this loss was recorded in the quarter ending October 2012, once that quarter drops off, we should see a low teen P/E number reported on Yahoo, which might further increase share purchase.