I don't understand why prxi is acting like a roller coaster right now. I mean it is extremely undervalued...they have to extend hours for all these shows...the demand is high in vegas...who is selling and why? I mean Q2 results are supposed to be amazing...the stock is worth probably no less than $8 right now and should be around $10-11 in the next few months. They have more exhibits opening...vegas and SF will keep attracting people. I mean I could understand a pull back from its 52wk high...but this type of movement sounds like they just released a horrible press release...any ideas guys?
On this stock the bid/ask don't mean too much. Pick a price and put a limit order in, you will get screwed if you use market orders on this baby. Good company, stock should do well but always do your own DD.
If you were trying to get the facts you would know the 1st qtr was NOT a miss.
The guidance given by the company was just above 40 cents on a PRETAX basis. The 1st qtr was 7 cents pretax before non cash charges which was 3 1/2 times the corresponding qtr from the previous FY. A miss. NOT. The problem is the company did not report the earnings in the same manner they gave guidance nor did they fully explain they would be accruing for taxes in lieu of $5 million in NOLs for FY07. I do blame the company for this.
The 2nd and 3rd qtrs are likely to be 15 cents pretax or better. By the end of the third qtr, assuming the next round of 4 exhibits kicks off quickly, PRXI will likely have pretax earnings better than 35 cents. The big question is Pier A and when it will open and what expenses will be incurred to dock Titanic permanently in NYC.