to kel...a former bagholder,
Suppose they cut the book value by 40% ? So then we have a stock changing hands at $2.35 with a recognized book value of $14.40. Baker Street called for new board members who are 'independent' so now that has happened. Baker Street said $15+ per share, and oil and gas have declined by about 30% since their October 16, 2014 valuation of "over $15". Ok...lets do some more math; $15 minus 30% = $10.50 per share. The short infestation period here appears to be ending. Even shorts can get too greedy. We even had bond buyers who shorted the common ?
So the Steak N Shake chain over 500 restaurants, Western Sizlin chain, insurance company, Maxim, and other holdings, Minus all debt are only worth $142 M ? This is an extreme value stock.
Use automated sell orders with high fixed sell prices (like $9+) in your stock brokerage account. Shares with existing sell orders cannot be utilized as house inventory for the shorts. Request physical shares - paper stock certificates- be mailed to you. As the stock rises this year, sell covered calls with out of the money prices. Once again, this deprives the shorts of fuel to use against longs. Swift has great natural gas assets in the eagle ford. The Louisiana oil and gas acreage can be sold to make the June 2017 debt payment. Shorts are using fear to drive a stock trading at $2.25 with a reported book value of over $24 per share.
What happened to Kel...a holder ? Now we have Kel....the taunter ? The reported book value is $24.86 per share until advised otherwise.
Swift is now 53% above the low where the swifter and brighter shorts could have covered....so to speak.
Sandridge up 12% today and they carry 3 X the debt load of Swift, and Sandridge has far less desirable acreage.
One wonders how long the shorts can contain the market capitalization to $125M ?
Should be an $18 per share stock ? Shorts playing with fire.
sharkfrdpharisgay - this poster using the exact same scare language as our...rebecca.
The last reported net tangible assets of Swift = $1,090,349,000
The market capitalization of Swift today was below $90M
Does this seem like a situation that will correct to the upside ?
Is natural gas price going lower with fewer and fewer operating rigs in USA and LNG exports being alligned for Texas coast ?
IPOs are floated to take capital from public dupes.
SHAK has very few stores and will take decades to grow into this market capitalization.
Do you understand market capitalization, dolts?!
You will need to 'forget about it' for about 18 years to justify a market capitalization of this outrage bubble. Biglari Holdings control close to 800 restaurant locations with a market capitalization under $900M. Gee, which one is the better VALUE ? Steak N Shake is more valuable than a few bubble shacks. LOL
It would be interesting if simple Simon placed their precious malls out for bid ? Can we all spell...illiquid ?! Just wait until the FED charity rates are over. Those malls become even more illiquid. LOL
That analogy is an attempt to show the extreme SHAK valuation per store.
Angus burgers, Idaho fries, and wine are not patentable items, corncobs!
Where does Swift go on a day when oil and gas sector stocks are not down 5% ?
I laugh in your face, scarecrows!
Terry Swift needs to lead by example. He should be raiding his grandchildrens piggy banks to buy Swift stock on the open market.
This is one of those slow cook BBQ deals, the short hog is placed deep in the earth after the bed of mesquite wood chips have smoldered down. A large red apple is stuffed into the hog, I think a see a name on the apple; rebecca.
oil, natural gas, and even gasoline have all turned upward on good volume.
Grab some ice cold brews and enjoy the short hog roast!
Highly regarded for what ? Failing to sell Louisiana in October 2013 when it was first put up for sale and oil was over $100 barrel ? Failing to hedge ? He did manage to sell some shares in December 2014 - creating a nice message of confidence for other shareholders ? I don't like his exit package...very costly...for a guy that damaged shareholders for Years.
Don't forget an insurance company, Maxim, and Western Siz included in the market capitalization of BH.
Enjoy your angus bubble losses....SHAK dupes!~