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The folks selling now are going to feel pretty foolish when the warrant episode is over and the serious buying starts again.Maybe $6 by early January then off to the races if the EPS holds up.Why sell a stock with $4/share cash and earnings over a buck? I really don't get it...
Clearly, though, even the selling is pretty minimal - only 20K or so traded. I wonder where this thing will be in a month?
If management releases some preliminary results on Q4 early in January, we should move up at least a buck or two from the current price level. Let's hope they don't keep us waiting until March.Regardless, the end of the warrant overhang should be the catalyst for the next move up. Earnings and cash like this will not go unnoticed for long.An insurance company, PRES, went private today in a management buyout, 50% above the current price. It would take at least that (probably closer to $10) to get a majority of MAXF shares tendered.