Well, the stock has doubled since their last earnings announcement....and that certainly wasnt because operations were doing better, it was b/c of the possibilities of buyouts, asset sales etc. So maybe, when some investors actually see what a real quarter looks like.....they get scared and bail. Or maybe some of investors didnt like guidance.....which was optimistic longer term, but short term, there's a decline in sales year over year in the March quarter (I think).
I had sold half before earnings, and bought that all back at $8.20, but it looks like I may have been overeager.
Nevertheless, I agree with many on the board that the reason to own TECUA is still valid......sum of the parts, its cheap.
They have committed to merging the A & B shares. They have committed to adding two more board members (it will probably end up being the two guys proposed by Roumell). They are totally committed to selling all or parts of the business. To me it seems that the sale of parts of the company seems more likely and is better for the share price in the long term. But all this will not happen overnight. It might take 12-14 months. People selling today do not want to wait till the 2014 annual meeting for some of these changes to take place.
I am hoping that the stock drops to $7 so that I can add a ton more.