I have a broker who is very skilled at picking small-cap stocks who has been recommending Alphatec to me for a year or 2. I had been watching it and got tired of it sitting in the same $1.55-$1.70 range for such a long time and really had nothing I was considering trading to buy in with. Then, everything changed with the last earnings report. Beating on the top line and new device approvals. I missed the runup to $2.50 and thought I had no chance of getting the stock at a "reasonable" price. But then, and I don't understand why, the stock dropped all the way back down to almost the same level I had been putting off buying. When I saw this I decided to jump on the stock and get in with at least a few thousand shares to start. Right now I have close to 10K shares and I don't think the company will disappoint this year. My daughter is in a spinal orthopedic surgery practice and business is better than ever. What's the downside at this level--if any? The chart shows a nice upward trend from the low on 11/28 and it looks like this should be the bottom at both the upward trend line and the 200 DMA. I think the stock will trend higher into earnings and then hopefully retest the recent highs.
Kinda the same thing here. Got the advise from my broker when the share was at 1.65. Bought a bit later at 1.97. (should have sold though at 2.3 and bought back now!) . He has been in contact for a while with the CEO and knows quite well whats going on. A lot of selling pressure from older shareholders every time the share goes up. Those were buyers at around 9 $ at private placements and by now they are a bit tired of waiting. Previous management did not do a good job. New CEO is well known in the sector and did a great job at DJO global. If he manage half as good as he did there this share goes easily to 3-4$.
I don't get it either, I bought back at 1.97. There is a lot of selling pressure. From what I know there are some old shareholders that bought when the company went public at 10$. They have lost so much that as soon as the share goes a bit high they try to sell as much as possible. The new CEO is very good. He did a great job at DJO Global and probably this will go up with next quarter results.