Yesterday when SPPR was trading at $1.00 you asked if it sucked. Today it closed at $1.18. I know that two days do not make a trend but do you see why I said this stock does not suck? At $1.00 there is very little down side price risk while there is huge upside potential.
I am hoping that somebody knows something positive which is reason for rise today. but with such small numbers does not take much to move. I hope management is getting its act together because we certainly have some underperforming asset for last several years to say the least. I remain long many thousands of shares and hopeful but cautious. I also own some preferred. Pure speculation at this point.
I sadly have to agree with you that it does suck. But here's my take. Current management has done a ton to get it on much more stable footing: selling home office, terminating Royco's crappy contract, aligning day to day opps with more regional managers, liquidating properties. All of these moves will take quite a while to show up in the quarterly's as they had to pay Royco 500k if I remember correctly, so they will make it up over time, not overnight. It will not be an $8 forever again but a couple more years of taking care of business they will have a lot of positive cash generation they can do something with.
No! But, it certainly can be infuriating. SPPR doesn't say much except once a quarter. The annual meeting had a distinctly positive tone. The liquidity and leverage problems are gradually being handled. The stock declined nearly 40% with no change in the fundementals. I think that after some positive report, whether it is earnings, sale of properties or insider buying, the stock will be back at $1.60 in short order. A stock with the potential for that to happen clearly does not suck.