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Art's-Way Manufacturing Co. Inc. Message Board

  • zzwildman zzwildman May 22, 2007 2:06 PM Flag

    farm mach mfer's new tech stocks

    kramer says buy farm mach mfers new tech stocks. shorts bring volume up on artw over 1,000%.

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    • Perhaps it's David Noyes buying up stock, I noticed NOYS on the buy side of this market.

      We'll be north of 10 within a couple weeks.

    • I find your suggestion that short sellers are responsible for the increase in volume of ARTW shares to be incredible. The volume is up and has continued up for two more days and I'd have to guess that someone is sopping up whatever shares are offered since the price has gone up to a new high for this year briefly.

      And since I cannot imagine who would want to own this company to run it other than the McConnells, I suspect one or the other of them might have placed orders to buy. The other possibility would be that someone who truly sees a breakthrough in sales and profits for ARTW might be willing to buy whatever shares were made available up to some level. Since we are seeing 50,000 shares being traded per day at $9 or so, $45,000 worth and I think that has to be halved with ARTW shares (double counting of nasdaq trades). With only 1mm shares available to trade other than shares held by the chairman, we are definitely seeing huge volume.

      McConnell could be thinking about taking ARTW private--and though I'd have to check the terms of his agreement with the company, I think he was forbidden to make additional investments which would give him control when he first returned to the board but that there was a time limit on that constraint. Perhaps he is now allowed to buy more.

      For my own decisionmaking the question always was whether I chose to invest a lot of money in a company which was so completely under the control of one man. I have chosen not to buy very much for that reason though a feature preventing his owning more might reassure me some. It is also clear to me that the board answers to him at this point.

      Interesting. I let whomever it is buy a few of my shares yesterday at $8.70. They might be willing to pay a lot more once we find out who it is. If it were McConnell himself, it won't take many before he has the majority of shares.

      Best, L.

4.875+0.004(+0.08%)Jan 29 1:04 PMEST

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