especially since they made money 1Q, continued direct purchases of stock by insideres, and listening to the 1Q CC where they basically said they were going to have an acquisition in the 2Q and have increased customers. then, they have the announcement that their full year earnings should be on par.
hang on to the stock and roll in your 15% yield...
The volume indicates a run to the $6.89 low and another 20% yield (Christmas in July?), especially if CODI closes below the 4/28 swing low of $7.87. Incredible, unless we really are headed for a depression. Could CODI be the canary in the coal mine?
Not sure why it's been selling off but it's a very good value here, I'm in at $7.70. Someone already did a huge amount of DD to determine $8.85 pricing on that secondary (which was probably at 10% discount to real market value) , plus you have $8.50 purchase by the CEO. Back up the truck as they say.
I think a very small part of today's move was the result of the breakdown of $7.90 resistance. $7.90 held for two prior price declines, so when 7.90 broke today, I'm guessing a lot of sell orders hit driving it down more.
I think the most likely news will be an acquisition announcement soon, which I consider to be favorable news, not negative news.
I've owned CODI for a while now, added at 8.35 and will add more in the low 7's, assuming it goes there, which I think is likely with the current downward momentum.