I'm not nearly as savvy as most (probably all) of you posting here, so I'd just like to pick your brains. What are you doing now? Selling? Waiting on further developments? Joining the class action suit? Other? Sitting around forever waiting on $5/share that may or may not materialize doesn't really appeal to me, but I'd do it if it's the best course of action. However, for tax purposes, if I'm going to take a hit I'd prefer a short-term loss to offset short-term gains, opposed to watching it turn into a long-term loss.
I don't have a huge amount invested. I was holding 2000 shares bought at various prices and sold 1000 on August 1st at about $12.50 to insulate myself if it went lower ... which may have been a stupid move, but water over the dam now. Just curious what some more savvy investors are thinking at this point. We were clearly sold out on this deal, but I can't rewrite the past ... only think about any future moves.
I decided to join the lawsuit...you have nothing to lose...its all upside...at the very least you get the current buyout offer but by joining you get all the upside and no downside...they provide you with information regarding the buyout, they help you with understanding the process, etc. They can answer a lot of your questions....here is the number of the law firm i joined and they can send you the complaint 1-877-772-3975
I think they will increase the offer just to get the lawyers off their tail. These buyouts have become a offer/ counteroffer lately. I sold some of my TSRX and added to my OPTR just to see how it plays out. The way I see it is they can increase their offer or drop their bid, either way it will go up so that's my trade. GL2ALL
after the fact I got thinking the same thing. I was holding PCS Metro before it was bought out by T-Mobile and the deal wasn't what it should have been. They came back to the bargaining table and sweetened the deal. However, that was before shareholder approval and the offer was going to get voted down, so if -Mobile really wanted to complete the acquisition, they had little choice. I'm not sure if it's the same in this case. Hence my comment regarding not being savvy :-)
Well, thanks for your input. I sold right around the price it's at now, so I could technically buy back in if I think it's going to move up. I haven't really lost anything but a trading commission ... which is small in comparison to what I could make if it does go back up. Guess I better think this one through.