We are going back to $1.50.If they cant sell this collection on the 100th, when the heck can they ?The bidders know Sellers is a motivated seller. They are seeking a BARGAIN.Combine that with the highly uncertain tax issue and the selling may have been rational speculation.My cost basis is low so Im holding on.But make no mistake, if all 6 bidders are seeking a "steal" then the collection might not be sold anytime soon which could send the shares toward $1.I hope not, but its possible.A 5 year old valuation that didnt consider the legal restrictions is meaningless.Now, I hope Im wrong and we go to $4 in the next few weeks.I just dont think thats likely.I also think its HIGHLY UNLIKLY that Sellers has sold a single share.
Ya but six bidders? Someone has got to be able to come up with the cash. If all else fails they could combine 2 or 3
I spent many years at dealer only car auctions. The repo & new car dealer trade lanes were particularly heavily bid on. So having 6 or more bidders didnt keep me from getting some real bargains. Not always, but sometimes.I dont think combining 2-3 bidders is possible with the legal restrictions. Or if they would be, the extra legal fees would be expensive.I considered selling in the $3.50 range but didnt.Would have been prudent to sell at least half but hindsite is 20-20.