What is the Special dividend for? Any clue how much? Was just sniffing around this because of the current dividend and saw your post, but didn't see anything else... Also how do you feel about this stock? Seems to be one of the declining old school drug makers. Any chance it will re-make itself?
I used to feel that way about the shorts here until I looked at the NAZ short view every two weeks. Most of the professional short position was done at $40 or above, so there will be no urgent need for them to cover. I also think they knew when the secondary was going to flop on the market. I have written a letter to the S.E.C. asking that they investigate based on insider information.
The secondary was offered at $32.XX and for the broker to make any money to sell the stock it has to close above that price. So I believe there is a concerted effort to boos the stock above that level (forgot the exact number and I am too lazy to look it up). I believe HABT will trade in the $30~ $33 level for some time unless something dramatic happens. The market makers will try to push it to $32 or above until the 5M shares in the secondary can be absorbed, and that will take a while.
This IS a secondary offering. See the S-1. Aslo the lock-up for primary share holders is still in place and they have another 30 days to go on that, so it isn't them.
Sentiment: Strong Sell
You are missing the point. A 50% dilution of your position without a dime going to the company. The beneficial owners keep all that money and we paid for the whole transaction cost. The short positions were probably taken (from what I can see) when the stock was in the 40's. So their risk is not what you think.
Sentiment: Strong Sell
It is obvious the person or people who own this position knew the company was going to come out with a 50% dilution to the IPO. That is why they held this position. I don't know why the stock only went down a little on the dilution, but I got out at about what I paid for it and feel lucky. I do not trust the management or Piper Jaffray's.
Haven't heard from you in a while audio. I thought you had closed your position and taken the loss. Still riding this bad boy all the way down looking for rainbows and bluebirds?
I have heard a lot of people here give predictions on SDRL and the price of oil, including you). I have never done that because I cannot see the future. I only know supply and demand and if you have more of something than you have places to put it, it is over supplied. We are near that point now.
One of the few things that could help all the drillers and the price of oil is if congress allows the export of raw crude. But even if they were so inclined "the big O" would veto it (this is admittedly an educated guess).
I even took a bet on SDRL for a very short time before the earnings announcement (because you and many others were positive on their earnings). I made a little money on it and then ending up losing a little money on it, but it was mostly insurance anyway.
MY friend is still holding his position also. My prediction? I would think a drop to $35 a barrel is possible for a short period of time. That would cause a drilling capitulation, but it would take 6 months or more to have drilling start back up again. I am running out of a time cussion on my puts and they have not moved as much as the stock price has gone down because of the time issue. Who knows when they will finally go BK. Certainly not before July. Who know when all the believers will finally capitulate (many will go down with the ship wondering how this could have possibly gone wrong including JF).
And then again maybe something WILL happen.Good luck, even though we are on opposite sides of the table you have always been much more intelligent and considerate than that IVO character who now owns 50,000,000,000 shares at $1.25
IF THAT WERE THE CASE . They would use the money for expansion and opening new locations. Instead all the money goes in the pockets of the former owners (and still controlling people. Not US.
All while someone was holding a 60% short stake in the company... Someone close to this knew they were going to do a 50% dilution AND they did it right after the earnings report. Very suspicious. Mailing my letter to the S.E.C. tomorrow asking that they look into this.
Here's an honest tip for you Ivo. Sell ITUB and take your losses. It and the Real and Brazil are all headed down. If you do have any real money in USD count your blessings and call it a day or the $75K will turn into $150K on the downside.
Oil production is more than needed and will be for at least two years (probably 3 or more), In your look you did not include SDRL's massive debt and the fact that drill rates for off shore drilling have gone through the floor because of competition. Too many drill ships, too little drilling. The old supply and demand on both accounts. SDRL will not survive the wait for higher priced oil.
He'll say he now owns 60,000 shares and his average price is $8.76 and so on...
Cute. Bad management is the problem. Who would do an IPO, sell 60% of the float short and then come out with a secondary that keeps all the money (nothing goes to the company for growth). Very bad plan!!! Someone knew the plan and played it!
Sold mine Friday @31,49 and broke even, but still P/O'ed.
That is the question. If it is Piper Jaffray or anyone who knew about the secondary that was planned (you can't tell me people didn't know. That is insider trading. Can anyone find out from a full service broker? I really need to know this answer.
It is not the shorts, its the burger flipping management that has turned stock flippers. I think Piper Jaffray KNEW HABT was going to offer a secondary and dilute the shares and THEY are the shorts!!!!! Sounds like a lawsuit to me!