The new CEO ran First Capital Bancorp. He took the position in October 2008 when their stock was $9/share. At the peak of the financial crisis, the stock tanked for a few weeks into the $4.50 range and then recovered almost immediately to $8 by mid 2009. It then slowly deteriorated to less than $2 by Sept. 2011 and since then has recovered to the $5 range and is now being acquired at $5.54. Without knowing what he was handed it is difficult to judge his performance; however if you go by shareprice he did not do a great job.
This is a situation where insider selling is fine by me. In fact, Thad got screwed to some degree, as he could have exercised these when the stock was $11 and sold and now he will wind up with about half of that since they would expire worthless if he doesn't go ahead, exercise and sell to pay the taxes.
"Pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, on November 13, 2015, Thaddeus Dupper, Chief Executive Officer and Chairman of the Board of Evolving Systems, Inc., entered into an agreement to exercise and sell up to 74,478 stock options at predetermined sales prices and quantities over a period commencing November 16, 2015 and ending December 27, 2015. The options are ten-year options issued on December 28, 2005 and will expire if not exercised by December 27, 2015."
Jeunesse and Batiste could disappear in a flash and then they would be left with the money losing Scotts Liquid Gold line; doubtful this is takeout meat with the bulk of sales and all of profits coming from two lines that can be pulled within 1-2 years and will probably continue on short-term contracts.
Since this stock was in the $9 vicinity from the start of the year till mid-July, anyone who bought the stock in that period has significant losses. Near the end of the year many people will sell their losses to offset gains and then wait the required 30 days and re-enter if they still like the stock. One often sees huge downdrafts in the last 7-8 trading days (before the final clearing date) in microcaps with this profile. If you are looking to get into this stock, or add to an existing position, there is a good chance that you might see this kind of irrational selling (in that it is tax motivated and not fundamentally motivated) and be able to take advantage of it.
What kind of "games" are people playing? This stock has a large enough bid/asked spread so this kind of volume is REAL and there are people exiting and getting into the position since that last Q ended for funds.
It is just a guess, but it would appear that someone with a large position is getting out and someone else is building a large position (and the two appear to not have communicated with eachother to trade a block between them so they are buying/selling in public.)
I expect several upgrades over the next few days. It takes a lot to move this stock, but once the blackout period is over for buybacks this should have some strong support and begin a steady move to the $4.25-$4.50 range.
If it stays above $3.95 for 4 more days it is off to the races (at least for technicals!!) I would assume the fundamentals would also be strong given new car sales this quarter.
What you have read is a generalized description. In this particular case the CURRENT common stock will be "extinguished" when the company emerges from Chapter 11.
I agree that this is a pure positive. It is accretive immediately, provides a new client base for EVOL to market its services to and augments its product offerings. Also, it is being funded from their credit line and thus does not diminish their short-term cash position so it would appear that the dividend should be safe.
Next Q or 2 will be "meh" as they refill the pipeline and begin to build backlog, but 2016 should be very solid.
Actually, I think this may have more to do with it as genetic engineering replaces mechanical engineering..
"The first patient has received a pioneering human embryonic stem cell operation in the U.K. that doctors hope will be effective against a common cause of blindness.
According to a statement released today, the procedure was performed on a 60-year-old woman with a condition called age-related macular degeneration at London's Moorfields Eye Hospital last month. The procedure was deemed successful and there have been no complications to date, the statement said."
You really believe there will be fully autonomous vehicles, with NO driver/controller at all...within the next 10 years?? I have a bridge to sell you.
Stocks with thin float, like EVOL, have this kind of volatility on relatively low volume. Could be a microcap fund decided to buy 25,000 shares etc. Unless one hears "fundamental" news the weekly oscillations can be ignored. I can assure you if I go to sell 10,000 shares it will be back at $5.75 in a heartbeat. You have to like this stock for the longer term (1+ years) and only change the thesis if the news changes. Their weak last Q caused the news to change to many and instead of thinking $12-$15, the think is probably $8-$10 on the upside until/unless they show a significant growth in the backlog and people can see $.50+/share for next year.
They actually give out a PR everytime they buy back stock and seem proud that they have pixxed away tens of millions of dollars of shareholder money buying stock back at an average price of $9. Don't they realize they are admitting to foolery??
Yes...I'm not sure I want to be around to see TAXI's next quarter's financial statements. The last two quarters they took some unusual measures to keep reported earnings stable...but people have been seeing through that which is why the stock has been pasted since then.
You can check out Meyers and his involvement with a seemingly fraud-laden company called Forcefield Energy that he plastered defenses for all over the internet.
Price plunge bears no relationship to safety of dividend. This is a thinly traded stock and if someone is moving their positions around, or needs to meet a margin call and they need to sell 10,000 shares it gets crushed.
Won't impact the value of NY or Chicago Taxi Medallions over the next 18 months. There will be a lot of brushfires for Uber, but the "cat is out of the bag" and "crowdsourcing" cannot be suppressed over time.