it looks like Luby's is trying to sell one of its closed locations in Tulsa, Oklahoma for a staggering $3 million. This illustrates the company's vast hidden value, stored away in its real estate holdings.
the stock is so oversold, it is laughable, and is due for at least a dead cat bounce as shorts seek to book profits, by buying to cover and bargain hunters try and steal a bottom. Not sure if the CEO will be buying soon or not, as after spending $3.3 million lately on Luby's shares, he might be all tapped out. One thing for sure, is everybody involved in this company, is making money except the shareholder's. That is not the American way!
Looks like we are getting a little relief today. I suppose the shorts are buying to book profits and bargain hunters are also trying to pick a bottom. In addition, the company is likely buying back shares too. The stock has simply come down too far, in too short of a time frame and is simply way oversold.
the company stepped in, by purchasing shares in the open market. That buying, stemmed the loss. Remember, they announced a $25 million buyback program.
After losing 2/3 of its market cap in less than one year, it is time to go heavy on the long side. The downside is now rather limited and the upside is wide. Look for these guys to acquire $JVA for a cool $50 million cash