i think the sell off was due to guys on the board selling their shares. we still own a lot of this.
but we did sell 100 shares today in our 401k. if it drops back to 210, i'll buy these shares back. we still own it in our 401k.
other than the guy named studio, i don't think any of the bashers care that much.
and studio just cares because for him he's retired and it's a personal vendetta against Rooky. It's sad that he wasn't able to make any money shorting the stock.
you think any bashers are short a 25mm market cap name? and even if guys are short from years ago, the stock is down 99.9% or something like that. so what if it triples and gets back to a dollar. still a home run short.
i think a few of the guys on the board have been selling shares (this board, not the company board) which has been driving the stock down. they are done it appears so we are off the the races. i still really like this at sub 200.
it's clear that more than a few non believers have been selling all thru 2013. i guess it increased after the rate rise this summer and continued after the conference call.
however, it did seem to find a bottom around 25 cents - i guess people are willing to pay for the option value.
stock closed up almost 11% today on good volume. why are you complaining??? The stock is now up almost what 20% off the lows. i would think folks would be very happy...
the sale at 28 cents was for 25 shares. i don't think it goes into the record book. The 31 cent prints should be where the stock closes.
btw - the "tape" was painted all 2013 (and 2012) to make the stock price look higher than actual sales. I believe this was done to facilitate folks exiting their position without causing it to seem that people were selling.
i am disappointed that Studio is BB. i respect BB's analysis and his tone is bad but not terrible. I guess he's got several personalities that he uses in various message boards.
BB has claimed to never been short the stock. which is unfortunate given how much time he spends on the name. But he's a solid analyst and knows the company better than most longs. I don't follow the company as closely as i did before.
yes, i do think they should have done a restructuring a year ago and preserved some value for the equity. A year ago, i think they could have kept over 50% of the company and come out stronger. Now, i don't think they will get more than 1/3 of the company in a restructuring if that's what they had to do.
One of my big winners from a few years ago did this GSIG. Look at the chart and how good of a job they did preserving value for the equity.
what's my agenda? please enlighten me. this is where i go for a little break.
agreed that the prior dilution was due to the subprime market. but the stock was overvalued even without the crash. that was the beauty of it. stock was overvalued by 50% and you got a free option on a housing down-draft. so instead of 50% down you got the home run 99% down.
of course this company can prosper and i hope they do. would be great to see them recover.
what's your average cost in the stock? are you positive like all the members of the IV message board. it's a fun board to be on, because everyone left has made money in the stock (shorts from shorting and longs from expertly doubling down and buying the prefs). it's great fun when eveyone is in the black.
what's studio's obvious lie? please highlight and i'll respond.
and i hope that studio is not bankbuyer although i am not sure. BankBuyer is also a bit of a jerk but he's a relatively good analyst. he's a retired guy with too much time on his hands when he's not playing golf.
i don't think bankbuyer posts here but Studio does. I have said numerous times that he's way off base in attacking people personally.
however, while the poster is an #$%$ many of his points are correct. it's just pathetic that he's been following this stock for years and hasn't made any money shorting it.
i pick on longs because what they (poolblue) posts is flat out wrong.
i follow this stock more out of fun. i made a decent amount of money (250k) shorting it back in the day so it provides for good memories.
i think they could have gotten away with 100mm shares and a small amount of cash 12 months ago. that would have been great for the company. it would have lead to the stock trading down of course (at the time i think the stock was like 50 cents). but i think the stock would be the same price today without the debt burden.
they would have had 200mm shares outstanding - probably do another 20 for one reverse split but a market cap of 50mm and zero debt. and that's probably the fair value of this company.
now, i think they would have to offer probably 200mm shares at a minimum and frankly unlikely the could even get the deal done at any price.
i am not a basher. i was bashing this when the stock was 160 dollars pre split. that was a home run short.
my point was that $4mm value isn't going to move the needle on a company that's currently valued at $110mm or so.
Advent is worthless in my opinion so you really have three things: CC - worth 4mm, Portfolio maybe 6mm left. so is SL worth 100mm. that's 15x pre tax income. seems aggressive
the 10k has enough meat on it for the bears that there is no need to get personal.
not really sure why a bull would "bump" this post. it's actually a way to get a true hard value on CorvisaCloud. 4mm bucks that was done just a few months ago. that's 4 cents a share.
of course that ignore the debt.