est. 17% annual dividend; RSI has been fluctuating between 13 & 70 over last 5 days, presently ay 14. well within BBands
what amazes me is that few questioned how a stock with such a small float, with only $40M in sales, could suddenly be trading millions of shares a day, 100 times their prior daily average, & not question that manipulation was taking place. Those that are selling the secondary offering are, in my openion, insiders who own the stock at at cost substancially below the $5.25.
I suspect when all is said & done the stock will settle back to its $3 to $4 prior range. It's in that range that I will again buy, solely for its dividend, & again sell if it goes above $6.
what hasn't been discussed on this topic is:
1. 24% of the stock is owned by insiders.
2. while they are paying out 70% in dividends, what are they doing with the other 30% (paying down debt, buying back shares, or otherwise increasing the value of the stock?).
With insiders owning so much of the stock, one can be assured they will act in the best interest of the stockholders.
give me a break. This company has 2.3M share float with $42M in revenue; institutions don't fall all over themselves with a company so small. Meanwhile, 50% of the float traded today alone. While I'm enjoying the ride it makes no sense to me. No news, no new product. something is wrong.
you're absolutely right; I was having a senior moment. my apologies to all.
having resolved that, is there any reason the stock won't slide back to $4? The RSI & BB's indicate the stock is way over bought.
if the massive buying is due to the ex dividend date of Jan 17, & the bollinger bands & RSI indicate an over valuation, then I believe one can expect an equal sell off by 1/18.
while 19,000 shares are typically traded in a day, we had 224,000 traded today. Since there were only 5,400 shares shorted, this isn't a short squeeze. And at only the open price of $4.80, someone bought about a miillion dollars of stock. If this is an outside company, this makes them owning more shares than any other company (by about 1/3 more). Since this is only a $48 million $ cap company with rev of $42M, & is trading at 2.48 x's book, something is going on.
It's not Insects fault, he can't read financial reports. Always watch the cash: it's the one variable that can't be fudged.
Mitt couldn't get elected dog catcher in MA. If he did such a great job & they love him so much, why is his state firmly in Democratic hands? In reality, his aproval rating in MA approaches that of Republican congressman (7%). And how do you know what he stands for; he changes his position every other day to suit the crowd he is addressing. He is an habitual lier, & I'll gladly give Tagg my address if he wants to try taking a swing at me.