I don't think those daily short numbers are accurate. they are "guestimates".
dude - Wathen is like a 25 yr old kid. Why would I listen to him? He can't get a real job with a real financial company.
TAXI could easily thwart these guys.
- If they aren't cutting the dividend, why not announce the next dividend now? Why only do it 2 weeks in advance? Many companies announce their dividend months in advance.
- why didn't they buy back 1M shares this quarter and soak up the float?
- why haven't insiders bought shares?
20+ years in business and still can't get this off the ground. This should not be a public company. Take it private. Then the execs would not be able to get the pay they are getting now.
why is it worth more than 1X sales? What technical advantage does their TMS's product have (none that I can see)? Why do companies need a VMS? 96% of them apparently don't think they need it.
the new news in the article was the CEO saying they weren't cutting the dividend. He would be in deep financial trouble if they cut it at the next declaration.
pre-market volume was 55K shares. the price range was $6.58-$7.69
pre-market and after market trading has mush less liquidity. Never use "market" orders!! so TAXI, which is an illiquid stock during normal hours, is even more illiquid pre/post market
the stock was "irrationally" taken lower by shorts abusing the system. About time it got to some semblance of normalcy. I think $9 is a fair trading price.
IDSY employees, including Sr management, read the boards. I know it for a fact. Jagid had much thicker skin then Ehrman. I said some pretty harsh things about Jagid and he never blinked. Ehrman is a pvssy
the buyback was resumed 1 week ago so I doubt it. The trading window closes this week. So it looks like they bought back 1% of outstanding which is a pittance at these prices.
Time to Hail Medallion Financial Shares
The emergence of Uber has hurt this lender’s stock. But the threat to the overall business is overhyped.
By JACK WILLOUGHBY
September 19, 2015
Shares of New York City’s Medallion Financial have been run over by deep-pocketed start-up Uber Technologies, now Gotham’s largest taxi operator.
The firm is a leading lender to individuals and companies seeking to own and operate yellow cabs through the purchase of a medallion, which is bestowed by the New York City Taxi and Limousine Commission and allows drivers to pick up passengers who hail them on the street. In all, there are only about 13,000 medallions available, which has at times made them a very secure commodity to lend against. At their peak in 2014, New York City medallions went for $1.3 million.
Uber pulled up in 2011, and its influence began to grow with the popularity of smartphones. Its drivers don’t require medallions because the company bills itself as a communications network that isn’t subject to transport regulation.
Uber’s promise of easy hailing of a car via smartphone and the possibility of a lower fare have proved extremely attractive to riders—and devastating to medallion prices. Recently, a medallion was valued at $875,000, down about 30% from the peak. Lenders, including Medallion, have backed away from making new loans on them.
Medallion shares (ticker: TAXI) have fared much worse than the medallions, plunging from a recent peak of $17.74 in late November 2013 to $6.25, or roughly six times estimated earnings, and a mere 60% of book value. The dividend yield hit 15.7%. That might seem dangerously high, but Medallion’s president, Andrew Murstein, insists that the chances of cutting it are “slim to none.”
fair market value is not 30% below book. The company has bought back a boat load of shares over their history around $9. I would be hard pressed to agree to a price lower than that.
At what price though? Who says they will give a fair market value? Typically shareholders get hosed in going private transactions