@bernadinacyrweisstein. How do you know nobody wanted to invest in SIFY he never proposed a public offering? And you admire that he bought at a third of the then current price and didn't even pay for those shares? Do you realize the damage done to the investors that owned the stock? Are you a complete idiot?
That's it in a nutshell general. Until they return and analysts cover again it remains a trade. You missed a 40% profit a couple of weeks ago but that opportunity will repeat itself. A bird in the hand?
Incidentally, I did recommend PKT a couple of years ago and it ran from the 5s to the 25s in a year and also MTG this spring when it was in the 4s. It was in the 8s until a pullback today when a competitor reported poor earnings, sorry if my efforts to help you make money offended any of you:)
As I stated in another post I believe they can and will exert their influence whenever they are ready. As PKT is a small part of their large and diversified portfolio they may welcome weakness to slowly add to their positions for the longer term. Even if some have sold out it's notable that others have stepped in to take their place. I would not be surprised to see some kind of positive move prior to years end, bonus time is moving closer.
It would be amusing if it were not so irritating to read a posters continual whining and complaining regarding his speculative investment. Lets reflect on his investing behaviour to start. He takes a large position in PKT after a drop of 20% from the high, not neccessarily a bad move but then goes all in after another 20% drop prior to earnings a b-llsy move but evidently THE wrong one since the stock dropped another 30% after the announcement. Not only has he already proved himself a fool for having all his eggs in one basket (posted by him previously on this board) but he has proved himdelf a bigger fool by not taking advantage of the numerous opportunities to trade and improve his cost basis, further more he is furious that mgt. does not deploy valuable currency to inflate the stock price so he can escape.
His comments regarding Institutional ownership further prove him a fool. Rather than looking at the total of Institutional ownership he focuse on the rotation of that ownership completey failing to recognise that those exiting may have decided to take profits and move on, unlike our poster boy they may have arrived early to the party and decided a modest profit suited their needs. He alo fails to recognise that PKT is only a small part of a very large portfolio for an Institution many of whom like many of us, have it as a long term hold. They don't feel the panic and anxiety of our poster since it's not their only holding.
As one of the more enlightened posters on our board pointed out to him, the fact that PKT is grossly undervalued should be embraced not complained about. It would not be the first time nor the last that a stock be grossly undervalued and out of favor and it could remain so for quite some time but it presents an opportunity for those who can recognise one and sooner or later the market rewards those with both patience and insight. Meawhile our poster will have to live with the misery he created for himself.
The small float works both ways, it would not take much for either an existing or new institutional investor or both to decide to create a short squeeze. With an 84% share of the stock and significant financial resources they are more than capaple of both protecting and growing their currency whenever they decide the time is ripe.
Peter the point is that the shorts can exert their pain for a very long time as we have seen but ultimately if PKT continues to execute they will eventually have to pay the piper.
I agree with you bronk. If PKT continues to deliver the shorts will have to cover sooner or later. They are in a box now with such a low float and my guess is that longs will add gradually before next earnings shrinking that small float even more. A few more announcements prior to next earnings may provide a catalyst for the nice move up we all (almost all !) expect.
I e mailed Charles a year ago regarding the high short interest and at that time he replied that there was no reason for it and it would resolve itself in good time.
The questions regarding both the short position and a possible stock buyback can be asked of mgt. at the end of the earnings conference this afternnon..
under_dog I'm in the same camp as you regarding buy and hold having held a portion of my SIFY position for over 7 years. However a large part of investing is risk mgt. and in view of SIFY's past history you would be wise to consider trading at least a portion of your holding at earnings at least booking some profit while waiting. That way you profit no matter what develops. Remember you don't neccessarily have to sell you can short a portion of your position at the close prior to earnings release with a tight stop. At least consider profiting from the big moves that occur, good luck in any case.
Well, you never know, but either way we can profit. If the shorts crush us again it will present perhaps the last opportunity to add some really cheap shares because I agree that next year we will soar.
Let me add in that my experience bad reports are usually made on a Friday, it may just be coincidence but that's my experience.