PK,you made similar statements on PKT. Did you have anything to do with the takeover of PKT or the activists ?
I know you also were always complaining about the management and had some contact with some of them.
I don't remember how high the ratio of cash to market cap got on PKT but right now on ALLT it's 77%. They must have a strong poison n pill preventing a takeover.The value of the company is now at 36 million.
PK, they may have purchased some stock in April on the 26 and 27 day.If they don't show some buying in the next two months we can expect another bad quarter. Wouldn't make sense for them to buy in the last quarter knowing it's going to be a loser. Congratulation on your successful call and trading on this stock
Since they knew they were going to have a loss why buy the stock? They now have 14 million available.
About 500,000 shares were purchased in this area in large blocks on April 26 and 27 and unless ALLT used up the 15 million allotted for buying can't we expect more buying in this area especially if they report meeting their estimate tomorrow.
Guess we can"t put much significance on that up move of 23 cents last Thursday on 44000 share volume. Since then it's gone down 24 cents on the same volume.
Wait until after the report Tuesday. There is enough up action to have me believe the insiders know something and are acting on it.
Yesterday a 250,000 block dropped to 5.28. Today, three blocks totaling 250,000 went at 5.30. Assuming ALLT is the buyer they can buy back 2,830,000 shares, in this area, with the 15 million allotted to buying back stock.
I got in at 5.7 and bought down to 4.87 and always done well when stock is listed as"extremely bearish", no confidence in the management and has cash of over 60% of the market cap and no debt. Remember PKT. Can't evaluate their products with very limited tech knowledge but will hold on until someone like Cisco takes over or it moves up on it's own .
I don't believe these cycles are some extemporaneous market action. Today 26.2% of the selling was by shorts. Usually the shorts are about 5% of the sellers. Some buyer has a program to allow him to buy the maximum at a low price. If so, I hope he's buying for ALLT.
Since the move above six on Dec 21 there have been three down movement below five and three movements above five. I like to think that's the work of a smart buyer for ALLT.
The last time the daily short volume was slightly more than 10% of the total daily volume was on Feb29 and Mar 1. Usually it's about 5%. Today it was 20.2%. Maybe ALLT, with the help of the shorts, can buy three million shares for under $5/share.