Hard to understand what you saying. I am trading for 15 years. And I know for sure that stock price not always reflect true state of a company. One example of many, I held stock Covad COVD, which one day before completing closing, was trading 20% under deal price. There are many other examples, when the price is way above of the proposed deal.
I hope it is going to be voted FOR merger tomorrow. Was anybody on this board buying shares for 5 dollars? I was. I tell you when, December 2008 I bought 1000 shares at 4.40. If economy goes bad who knows how low this will go. Plus the management, as everybody complains here is not most trustworthy. I think at 29.75 everybody will make a profit. Let's just don’t make things more complicated. There are probably some other obstacles to approve the merger ahead. But first step in the right direction is the most important one. Goluck tomorrow.
The reason it jumped to 25.42, was news that all law suites were dismissed. But then selling pressure resumed very quickly. So, I still don't understand why it is trading 20% under purchase price.
It is stil 5 dollars under proposed sale. Why? Investors believe it will not get approved by shareholders or other hurdles in the mix. Any opinions on this?
why would anybody vote against the merger, specifically when CEO is not trusted. who knows what he is going to do next? Sell the company, get us 20% profit and move on
I have been trading ovti since 2007. I saw reversals 5 dollars a share in a matter of hours. I believe it is the safest ply in market right now. But you need to have spare cash to take advantage of this circus.
Just got a call from OVTI. Voted my shares for merger. The interesting question is on July 24th when merger is approved what will be share price?
You dealing with Russians after all. They don't do things like free world does.
here what it says:
"The Company anticipates closing of the Private Placement to occur on or around July 6, 2015 (the "Closing"). Each party has the right to terminate the Purchase Agreement if certain conditions are not met, including a right to terminate if the Closing does not occur by July 15, 2015."
Last year August 14 was initially announced 29 bid. Day before stock closing price was 24.60. On this announcement stock jumped intraday to 28.4 Since that time company was beating every quarter with no movement from stock due to uncertainty regarding that bid. Now the stock even lower then 24.60. I think we pretty safe here regardless of this deal.
the shareholder meeting hasn't been canceled, its been moved two weeks, probably to include some additional language to satisfy these fees. OVTI shares have been manipulated for ever. its the game hedge funds playing. after 23 of July when shareholders approve this merger it will jump to 28 range.
Easy, I agree with you. I vote my 5000 shares for buyout. 4000 shares I bought in low 27 range. And planning to buy few more thousands in low 26 if it gets there. Better then .01 interest.
1. This stock has been trading in high 30th some years ago. And yes a have seen it.
2. Are you going send me your apologies for being so rude when this deal closes at 29.75?
it's fine what you said, but if you believe the sale will get done it is 2.7 dollars per share gain. why not make some money on price per share difference.?