Anybody think that earnings day will be accompanied by the secondary offering price announcement and other vital news releases... meaning, they tie it all into one big day of announcements that send the stock on its own up a couple bucks and thus squeezing the shorts for another couple bucks. I have never seen such low volume before the earnings... usually there are speculators out there taking a postion one way or the other..... it is really, really, quiet. Lots and lots of guys/gals sitting on the calls for march....
Oh, the year end audit takes a lot of time too. Much of it is just silly repetitive procedures, which require responses from outside vendors, etc. They are slow to respond many times (I have some experienc in this), so this just adds to the wait. Late Feb. we will get earnings. Normal.
Yes, the year end report is not due under the same time constraints as the first 3 quarters, so the 30 day from quarter end reporting history doesn't apply to the Q4 & year end numbers. I would assume that since the end of year has more riding on it (tax returns, pension contribution calculations, and other things calculated only once per year, etc.), they are allowed more time to prepare it. So, they will most likely use most of the time they are allowed, and that's good. I don't want another restatement because shareholders wanted the numbers quick, quick, quick.
12 inches of snow on Long Island today. Ughh.
If you would only go back a few days in history you would see that I posted that in speaking with investor relations, Ed Rood, actually, he passed on that earnings would be released "later in the month [of February]."
If you don't believe the CFO, who are you going to believe?
I will take that bet
from an e-mail receievd today:
We will announce an earnings report date as soon as we have a firm estimate on the completion of our annual audit. I expect the earnings report to be toward the end of February. Thanks for your inquiry."
I freely admit I got all high on the idea of a big short squeeze when we were up 2.55 on a Friday a month ago. It didn't quite turn out that way.
Nevertheless, the elements seem to exist here for what my understanding is of a "Classic Short Squeeze" I put this in quotes as this came from a post by someone years ago.
With 40% short: If news, hot earnings, or just some unknown touched off a sharp rise the shorts could suddenly find themselves with virtually no way out and the price could go ridiculously high even for the longs on this board who see the bright future this stock has.
The poster I borrowed the quote from named one or two stocks that had had a classic short squeeze--by his standards. It was years ago . . . are you still out there.
I don't know...but I wonder how long this secondary odyssey can go on without damage to the stock...in my opinion they need to do it before earnings because that will make it an easier sell to the institutions...but, that is just that, my opinion...