Apparently someone was expecting even better (not me), or maybe Riggs used the good news and dropped some of its shares on the market. KaBOOM!!
BEAR's largest shareholder reported no change in holdings for the Q ending 9/30. (Yawn...) The important thing is that Riggs reported the holdings relatively EARLY, creating a false (IMO) sense of (the) security. Time will tell. We won't know for sure about Riggs' move until January, '05.
My cursory review of the results equals YUCkY taste in my mouth.
Revs up 15.5 million year over year, the new flower division contributed 15.7 million in revs, hence, a net decrease in revenues from the core business.
Bear revenue decreased 2.1 million, the company states it is due to a decrease in 500K in advertising....I wish I could analyze all the numbers to see how much profit they would have made on the 2.1million had they spent the 500k in advertising.
If I were running this company I would continue to add to its offerings, they should start adding food products/candies, etc.
buy/hold/sell====I HAVE KNOW IDEA, i think there are better stocks to own out there...