Almost, woulda, coulda.
Was ready to short the day they "announced" the partnership with Nokia but the share price didn't pop the way I expected and didn't get filled.
I'll go long if it goes to 30-40 cent range.
Until the 20-F is filed I'm not sure what we would discuss.
Share price has sure improved relative to DRWI and AVNW.
Still no word on the debt covenant waiver.
Currency changes have been going against them but tend to think AVNW is going to get hurt worse due to their Nigeria exposure.
If DRWI can drop into 30 cent range maybe CRNT could do an acquisition. Suppose AVNW could too. Fewer competitors might help pricing but still hard to pull off.
and you're a rude person who hasn't spent much time reading their financials.
You ignored the rebate of $13.8 million.
You ignored the fact that they booked a large gain of $19 million upon the purchase and then, oops, write virtually all of it down in the same year so all your posting about intangible assets and earnouts is dated garbage.
I'm not perfect, I get things wrong all the time but you are way off base.
Saw the Youtube video but that is it. Tend to not believe it when companies say they have better technology. Just about everyone says that.
Even if it is better I don't think the market is willing to pay a substantial premium for the very best and price makes a big difference. As CRNT has lower costs than their competitors (I think anyway) they could theoretically do better and survive a long shakeout but they have made such horrible credit decisions over the last two years that it gets hard to evaluate. Even if a few companies go belly-up and the others combine it might just turn out like all the Wimax equipment providers with everyone ultimately losing money.
Very hard to evaluate. I still own a good chunk of shares but that Venezuela loss bothered me because it did strike me as very poor management. The old CFO is gone though; maybe it was his fault.
Basically, DRWI didn't know what they were buying. They made some very basic rookie mistakes and if you go back to the time of the acquisition and some of the things I said about Italy and the acquisition, you'd know why I'm a bit arrogant here.
Too bad I didn't do what Greedy did and stay short. I settled for pennies because of fear of another bubble.
I agree that they will likely become insolvent but they have spent a good portion of their existence in such a state. For some reason they are able to keep raising money.
Tend to think someone would buy the assets just to keep them from winding up in the hands of private equity. On one of the recent share issuances the legal documents were drafted such that it was an either/or transaction. In other words they almost sold out rather than issue shares. Doesn't mean they had a solid buyer but they definitely were talking to someone. That is the reason I would go long at 30 cents. Might lose it all but I make bets like that.
AGO has more PR exposure than MBIA and of that exposure MBIA carries more PREPA. There are differences in the different classes of debt and AGO has more non-PREPA debt so I can't say I'm shocked that they are moving down more than MBIA as PREPA isn't reliant on tax revenues, it relies on utility revenues.
The decision to not pass the VAT (or GST) theoretically means the PR debt has more risk today than it did yesterday. Bond prices certainly are moving in a fashion that indicates this. Now is moving to a 10.7% yield from 10.3% huge? Most MUNI people would say yes but honestly I can't get worked up about it.
Now not passing the VAT. That I can get worked up about. I think that it is bad for everyone but maybe it makes it easier to increase utility rates?
In the end it becomes a great big muddle but the price already incorporates significant write-downs on PR. I think it is a given that MBIA takes a hit in the quarter coming up on the financials. As headlines move stocks, rather than fundamentals, I can't say the share price doesn't go down but as I said, the share price assumes significant write-downs so maybe the share price doesn't get impacted.
The gift that just keeps on giving. Pretty soon so many people will be following them around doing the exact opposite of whatever they say that their hit jobs will have no impact.
Shorts will also post false reviews on Amazon as part of effort to discredit company.
Look at AVG, a previous target and you will find lots of negative reviews and yet the review by CNET itself absolutely raves about the product.
I'm not saying PP is behind all of the negative reviews but yes I believe short sellers likely are. Even if they aren't it isn't like the US is much of a market for their products anyway.
Yea you are right. Now they need ten days in a row above a dollar.
Those were not sales in the normal sense of the term. They had warrants to purchase at $30 a share that were acquired early in the financial crisis that expired worthless.
Trading around 57% of par. Don't have any opinion on whether I'd buy them as I don't understand the structured finance products well enough to have an opinion. Fairly sure MBIA management thinks they are trading too high based on statements in the last call.
MBIA would buy them if the price was right. What that price would be I don't know.
The surplus notes may be accounted for as debt but management said they in effect owned the structured finance insurer in the last call. Not sure who owns the surplus notes now.
Pretty hilarious. The banks were right that the entity was "built to fail" but being right doesn't always mean you win in a court of law. State of New York should be ashamed of itself.
All the years of expecting this to happen and finally seeing it is nice. Only wish I had the courage to stay short.
Who knows, maybe it bumps up in short-term but over the medium term I don't see how it trades above 50 cents.