It's looking like a bi-weekly pump and dump. Appears whenever it get to $2.00, push the sell button.
For years the stock price got bumps on MOU's and such, but the markets finally stopped buying into them. It appears now they've gotten a couple of bumps from actual contacts but those gains are apparently being taken away. It'd seem they're going to have to deliver revenues and profits to support any price increases.
You are ignoring that neither company is making $ selling the product. If that changes the gain will hold. And how many longs could avoid the temptation not to sell into a 70% one day gain? Not selling is just plain greedy. Now you have to wait and see what the new holders do. 13 million shares have changed hands
I've been a disbeliever but it'd appear SMYX is finally producing something other than MOU's. Congrats to the faithful.
The back-up from $2.50 to $2.00 is to be expected. The announcement caught the shorts with their pants down and there's always a bit of irrational exuberance.
Price peaked at near 70% above close. Giving back 50% of that is normal.
How much more of a message can they send?
You're making some sense, but I suspect "Ken"believes he covered himself for any disaster in the earlier warning. The more I watch the trading the more I'm convinced of a big loss for the qtr and a $4 stock price.
These guys are in a death spiral.
In the PR where they reduced guidance for 2013 they ended with the comment "even with reduced revenue we expect to be profitable". I read that as they'll book a loss for the 4th qtr but remain profitable for the year.
Let's face it, they've been on a steady downward trend and announced they were diverting attention back to their core business as enterprise has not gained traction. Nothing the past few months has been announced that would suggest the trend will reverse.
I couldn't find the details on the officers option deals, but the sec filing on the PR firm deal is silent on reverses, it simply gives them rights to buy at 70 cents. If that's the case, a reverse would be the windfall of the year for them along with anyone else with options that aren't adjusted for splits. In the PR case a reverse of 10 brings the stock to $6. They exercise 750K at 70 cents and blow them out immediately for whatever the market dictates.
Does anyone have more definitive information? Could these guys be dumb or corrupt enough to have not included an adjustment clause? Maybe split adjustments are a matter of automatic regulation in these cases.
On the tax question, the trade date is the operative one. Years ago it was settlement, but no longer. That's fact.
Opinion is you're seeing some tax selling, maybe, but most likely those in the know are bailing in advance of a reverse split. I sound like a broken record, but there's no way these guys are going to take a de-listing so the reverse is a guarantee. Only question is when they'll announce.
The sole purpose of these nonsense press releases is to create something to sell into. They've been doing it for years. Get smart and sell into anything they report
This morning was a great chance to offload loss positions for tax purposes. And the pr was not that big a deal. They've simply restarted a plant that was losing money when last operative. Better news than saying they were abandoning it, but not worth more than a few cents anyway.
You better read the announcement again. It's a cash sale.
And 90% of the time the acquired company is committed to the offer price so they can't sell to anyone else without incurring big monetary penalties. There'll be no more offers...only class action lawsuits from the #$%$ sucking law firms that have run out of ambulances to chase.