About 20 trading days from now, JE would have bought an equivalent of 2 Mil shares
thus cleaning up excess liquidity and take out the day traders and short timers. Couple of months from now, I expect the stock trading around $8+ and expect this to settle around $9 in 4 to 6 months from now. Enjoy the monthly income while waiting.
Their buying those shares over the next month or so .That is why the price will stay low, Their allowed to purchase about 154k a day, Newswire release is on canada side under JE.TO@ yahoo financials. I gonna buy more, cheers
I was stopped out of a substantial holding at 7.42 after buying at $8.60 while waiting to see if there was any recovery. There was but not until it had dropped to 7.24. I don't mind because I should have read the annual report more carefully before buying. Few things made me nervous. I have worked for US companies in Europe and now live there. Starting a business here like JE is a long, painful and usually expensive lesson for failure especially so when many US companies are downsizing in Europe because of the difficult and awkward business climate. Anyone can sign an agreement with Shell if it is a good deal for Shell so didn't sound like anything especially exciting.The ethanol operation sounds like a headache. Reducing the dividend by .03/month saves them $4,500,000 per month. That would allow them to buy around 600,000 shares per month or 7 million shares (4.5% of float) for a year which would only leave $45 million for buying back the $90 million debentures and certainly nothing for the other debentures. So the buy back sounds sort of shady to me. They talk a lot about their smart thermostat business. I see that amazon sells them at 34% off list at $250. so they can hardly be the hottest thing on the market. If JE sells these to 10% of their customers every year and makes $20/unit they will add a whopping $8 million to their bottom line so not exactly a home run. There are more bad comments about the company on the internet than I am comfortable with so I can sleep better without the shares than with them. I am a 25,000 hour pilot so not exactly a fearful type but JE raises more questions than I prefer. Hope you do well with them.