Large Funds accumulating significant positions in ACFN!! thoughts?
COLUMBIA WANGER ASSET MANAGEMENT, L.P now ~14% Verition Fund Management, LLC ~8% BLAIR (WILLIAM) & COMPANY, L.L.C. ~9% to name a few ..this stock is getting accumulated by smart funds in open market purchases (see major holders) and there is a significant short position of nearly 35%...with significant news from one or more of ACFN's portfolio companies a squeeze could materialize in a vicious manner sending the stock significantly higher..the question would seem to be is when will this happen?
Shorts have control of almost 30% of the float and they won't cover until they see a significant reason to cover. Shorts don't fear this company/mgmt and the fluff pieces they send out every now and then. Once there is a catalyst/earnings/contracts then we will see a short squeeze and a big bounce. On a side note, I was disappointed to see the CEO's new contract. IMO, he has done nothing to deserve that kind of money.
moosewizard, that's the only reason why I'm holding at this point. If the next quarterly report is as bad as the last one we'll know that mgmt was buying to create false hope....at least that's my opinion.
Agreed that the salary is in line with projected future company, not present. That's the way companies work - buddy directors board gives most to management and each other - screw the shareholder. Hoping that he uses his new, improved salary to keep purchasing shares of ACFN so the incentive to screw the shareholder is diminished.