Sounds like Miller000 came onto the miller scam a little too late. Probably holds thousands of options @ 18 and is trying to buoy the stock by spouting the company line! Poor guy. The towing industry (Miller's FORMER customers) has figured it out. Miller answers to no one but the bottom line. They aren't your friend, they are your enemy. They want to sell towers equipment AND compete with them down the block. Sounds like monopoly, not stability. The Justice Dept. seems to agree based on their anti-trust investigation of Miller. They will cut the small operator out at every opportunity. And unlike your average competitor down the street, they have $$$ from people who bought at $20 to spend. As for maintaining prices, the State rate in Massachusetts is $75 but RoadOne bid $45 for towing in Springfield. I guess RoadOne doesn't need the extra $30. Maybe that's why 4th quater earnings were dissapointing? Or is it as Miller says, the weather? It raining out! I think I'll buy a $50,000 wrecker! Just another victim of El Nino. That dog don't hunt. The early investors have cashed out. Those that remain and sold their family businesses for Miller options will do anything to recoup their losses and avoid corporate downsizing, including undercutting State rates to increase revenues. Miller should go back to what it did well. Building wreckers.
I may be wrong but didn't Miller underbid everybody (@ $8 a tow) for the Florida State contract? In any event, the idea that Miller could bring stability/high profits to the service side of the towing industry which has few, if any, barriers to entry is weak. This "consolidation" story has a typical ending -- a few people (insiders who sell and wall street bankers and traders) get rich.
The answer is, that if you want a short term gain (10- 30 days) you will be disappointed. If however, you are willing to wait 6 months or a year there is likely to be some substantial profits for you. The company has substance and a pretty healthy balance sheet when one considers its recent acquistions and the tough winter (mild) which it has just experienced. You must hang in there for a while and not have high immediate expectations. If you are an "instant profit trader" you probably bought too high and should wait a few weeks when the stock reachs a point where you will cover your expenses and then get out. The winners will have to wait a while. Good Luck !!
Fotr what it is worth, I expect stock to rally sharply in near future, the two gut churning gaps are climactic panic selling, now traders will play with it for a while. Yesterday the Wilder"s relative strength index crossed the 20% line, and also Chailkin"s Oscillator gave a trading buy signal, stock is currently in accumulation, has been since it was about 7.25 on it"s way down. Bought 2000 shares today at 6 3/4 and 6 13/16, expect about 2+ points out of it in next few days, but it has the technical strength to run up to 10+ in a hurry. Nothing ever guaranteed in any stock of course. Just thought I"ll share my thoughts and actions with those who may be feeling discouraged. It has undergone a very violent shakeout, and stock usually gets transferred from amateurs to the professionals under such conditions. Good Luck.