The board has already approved selling the shares at 45 I thought. Once that is done, ELNK gets 165,000? users and Sprint guarantees >100,000 new users per year. I believe there is a meeting on June 5th and that shouldn't be delayed or I will be worried. I think that Sky Dalton was trying to get to stock DOWN a few points so he could pick up some more for himself since he was selling his shares at 45 so the deal would work (taking one for the team). There could be bad news around the corner like issuing more shares, but they already said they were issuing more shares and that number can hopefully be reduced (like MSPG). I think long term this company will be great, short term I still think we'll go higher. Guess: I think we should go to at least 63 by Monday. What can make us go higher: 1)Specific mention of the new Sprint technology once the deal is closed. 2) Short covering which has increased from 400K to 600K from May to June (that's a lot with ~120K shares/day
I think I got 63 from guessing what the usual moves have been in this stock. I thought most of the sellers had gotten out and buyers would move back in a get it back up a bit. I am next looking for a peak to the $70 range but not unless we get some good news from that meeting. After that (1-1 1/2 days later) we will see some profit taking (myself included).
Does anyone know what is going on at the meeting. I expected to see some bigger blocks (buying or selling) by now. I am anxiously waiting 4:00pm EST to see if I should sell or not. That last quote I saw was 60 Bid and 60 7/8 ask.
look like Sprint must benefit more in this deal . cuz they are pushing for it . They even extended the offer date . It seem like ELNK reluctant to approved it otherwise why it take so long . Maybe they afraid the stock will go down to $45 .. I am not sure either ... There are too many ISP service out there already . Competition are fear . Upgrade is constantly needed and money spending is like crazy . Missing earning 1 cent will send the stock tumble half of it price . Potential upside is limited . Stock already gain over 110% since last 6 months . Potential down turn is a lot . Maybe ELNK wait till the correct hit and the stock go below $45 .. then approved the deal which might boost the stock back up . Just my opinion ..