Just a couple of years ago this stock reached $9.50 on speculation that a deal was near. Those doing the buying to get it to that level didn't assume that kind of risk just to sell in the mid teens.
The cash on the balance sheet was admittedly higher then, but not all that much higher.
Fundamentals will ultimately rule in the long run but those haven't been fully fleshed out yet. Upside speculation should make an appearance prior to that happening.
It's good to read all opinions on this board even if they don't form a consensus. This stock is almost invisible to the public meaning the only people posting here are fairly astute individuals who have done their homework....therefore I listen to everything others have to say.
Do you believe that they, the management, have already put together their dream team choices and will acquire and amalgamate fairly quickly ; have you an idea of whether they are looking broadline or to keep the brands quite focused on hard goods for hard people ?
I woul argue a big reason we did not see the large pop that was expected would be the deal structure. Yes this stock traded at 9.50 predeal and although there was more cash on the balance sheet I believe the expectation was for clarus to use significantly more leverage which would fuel faster NOL realizations and greater long term acquisition potential. We simply aren't seeing this here - it's primarily a straight cash deal. The concern now is if all NOLs can be realized instead of when. I fear there is a good chance we are disappointed about the multiple kanders paid come to tomorrow particularly for Gregory but also for black diamond.