It finally rallied. If the stock can clear the $9.20 area, we might be on to something.
Insiders were given shares at this price (they were grants). They didn't purchase the shares with their own money. The company merely printed up the shares to give away-creating earnings dilution. This is only a good deal for the insiders who rec'd the shares. I don't think anyone at Luby's is too concerned about the other shareholders. To them, they are simply an annoyance.
We will see tomorrow if this news is beneficial to the stock price. I have a funny feeling that it will be, but I have been wrong many times before.
it is the fourth quarter-they are given an additional six weeks to file their end of year financials. We should see earnings no later than Nov 15th.
If they get fuddrucker's humming again, they could easily exceed their same store sales forecast of .5%. They have already gotten nice SSS increases on their Luby's brand.
FSYS gave in, and let Becker Drapkin's Steve Becker become a member of their Board of Directors. This could prompt the change, that will enhance shareholder value. About time!
I'd cover my short on the drop below $100 in AAH, but since there are no more shares available to short, I won't cover just yet.
I didn't sell yet. I am simply setting my expectations way low, so I am not too disappointed. It could even be a form of reverse psychology. It is a good thing you are not a trader...it can lead to a miserable existence.
$8 will likely not hold. This stock is a real stinker and the bottom could still be a long way off. Don't get fooled by today's pop and get suckered in-it could simply be nothing but a bear trap.
The drop in gas prices should help fast casual restaurants like Fuddrucker's and Luby's pick up more business. After all, that will provide more discretionary income for the lower wage earners.
bronxbomber: not sure I understand your post. Are you saying a bank(s) are purposely buying the shares in the open market to prop up the share price? That makes little sense.
The 52 week low is $4.83. At the rate the share's are selling off today, they just might plunge through that milestone in the next few minutes. One thing for sure, earnings expectations are dismal and Management's priority is definitely not the stock price. These guys only care about the long term. The very long term. A lot of good that does for us.
No recent insider open market transactions occurring. That could be a good sign. It implies there could be some M&A activity brewing, prohibiting insider's from trading on the knowledge.
The good thing about horridly dismal expectations, is that they are easy to surpass. The bar is set so low, that just about anything reported will look good. I suspect Friday might be a decent up day in the share price and wouldn't be surprised to see them hit the $5.25 area, as shorts book profits by covering.