could have, and should have, easily bought at 70 cents. It was just a matter of trusting management's public statements. duh!
As I stated, this was "free money" at 70 cents. Now, it gets a lot more interesting deciding how to play the game. Let us hope that the "big mo" continues, and we have a nice move in the morning, and in the days leading up to Jan 30th.
As LEE exits BK protection, I believe we will see more institutional investors take a look at LEE and put some shares back in its portfolio when they consider their debt financing is secure for 4 years, coupled with the strong cash flow. LEE institution owners make up only about 30% of the float whereas most newspaper stocks are 60%+. If LEE only attains this level of institutional owners, that is about 16M shares they would buy up. Coupled with 4M+ shares sold short who are now seeing their BK mirage vaporize and delisting likely gone as well, they will also help the upward momentum in pushing LEE's share price higher in the coming months. Still a good level to buy at IMO.