It looks like the company is reducing its exposure to the display business. It will help in slowing down losses and maintain capital but it appears it has given away a big chunk of its future potential away. I expect some short term weakness here followed by a modest recovery in the $5-6 range where I have a gut feeling will meet its resistance point as Heartland and the other guys will begin to exit the stock here enmasse since the stock's full potential has been reduced.
The Shams must be quite wealthy as they own 65% of this stock.They are either very very rich and do not care about the cash holding the GAI has and is wasting or have faith in this holding for the future or are plain dumb!!!!!!!!!I am thinking they are extremely wealthy and draw big salaries?
GM- Yeah, I think they are stuck with it unless they have any influence for a potential sale of the company. It serves them right.
I am kind of ticked at Heartland for their undue influence of the sale of High Plains Corp which right now would have by now been netting me with a very large gains given the sector's current strength.
Fortunately, I scaled out of my remaining position in the low 8s on the first earnings report with OLED revenues which IMO were a flop. I think this current move will be good for improving the operating situation but it is not clear by how much and it also appears it gave quite a bit of potential (if their is any left) from the business to achieve it.
This stock is on my back burner for a potential look based on its accounting risk but it never gives me a trading opportunity and I am not sure the rebound in share price will be significant enough.
I still will stick with my plan which I have done for close to 5-6 years now. Avoid most of the United States equity market and mainly own stocks related to the commodity sectors.