Hard to know the short covering number, but my gestimate is less than 500-600k shares. Remember many of 4.5mil shares are double counted, left/right/print specialty trades.
Stock was 16.25 just month ago, so 16.40 is not much. AT $25 , I may sell 10% my shares
oh really. Now it is expected, as wedbush said? WHy no one said that before. Ask Tilson fund why shorting at $12. Us investigation and recall was Tilson main point for going short, what now: maybe some kid drop ice cream to lumber's hardwood and sue LL for falling?
OH no. Shorts. Don't know what to say anymore. Just try to cover 200k shares and we are talking $17, what happens if you cover 10,000,000 shares?
with 28mil float, 9.3mil shorts are just crazy. Even with the worst worst case scenario, covering 9M under 10 will be impossible. Even if LL said they will close 90% store tomorrow, with normal stock without much short interest might trade around $4 to 5 range, but when you bring 9mil to that equation, it will be impossible to cover under 10 even with most negative news.
BUT (let's say small BUT) if they are not correct..oh my...I am just too sorry for them...home some are hedged with other long instruments (which I do not see much such as bands, calls, etc)
small positive news and panic covering will move this over 25 to 35 range within days/week easy.
Imagine now one good positive news, analysts like goldman upgraded to $50, etc...can you see where I am going.
What happens if home depot and lowes rumor gets more reality..can you see 40 to 50s...??
Earnings mean so little for LL these days, like many new startup, early biotech companies.
All we need from LL is to show that the revenue downtrend from same store is slowing and trend is moving positive direction in q3 /q4.
In Q1 we did about -13% same store loss revenue, and I would like to see number greater than -10% for q2. If they come up with better numbers, e.g -5% stock will jump 3-4 points.
There are many companies out there, specialy the new biotech firms with drugs in phase 2 studies. Many of them lose money for yrs and planning to lose more in coming years. The reason those stocks go up, is because investors are looking the long term prospect. If drug gets approval n 2-3 yrs, where will stock trade, etc...almost same story here, but we do not need fda approval of a new drug, all we need customers to come back store. ALso it is nice to see LL did not bring prices down to manipulate the traffic and increase the revenue (Margin was actually higher in q1 than in q4-15)
but end up paying over 11.85 today. Long term does not matter paying $1 less/high, at least I was lucky to get 2187 shares at 11.45 right on the close yesterday. Had an order for 9k at 11.45, but NYSE specialist had market on close order and printed it at 11.4 ( I think it was 13 to 20k shares)
Yes they had about 600k shares before and added another 800k shares since March 31st, but passed 5% threshold mark just last few days ( sec requires to file 5% ownership within 10 days )
LL is Gagnon's largest position now (that is BIG), and they are probably the 3rd largest LL shareholder.
I don't remember now. One point I had over 40k shares, but by the time it was around 16, I think I had less than 30k
now I have 16 and will get another 15k most likely if it stays in this area. More shares if it goes down.
No I am not, I use common sense and try to not be greedy. And luck always helps.
Was hoping to buy lower, but long term 11.90 is not too high.
Have a lot more to buy. Tilson, please please..put another BS powerpoint slides...I want to BUY. HURRY UP! haha
It worked great last time.
I personally prefer they DO NOT. By buying shares they do guarantee that they do not know any non-public material POSITIVE news. for example, someone wants to buy them cheap, let's say $15 and make them private, or Lowes has shown some interests and is talking to them.
Buying shares is good long term, but it will be a turn off for investors who are here for buyouts.
Short term losses mean nothing, attorney costs etc will go away slowly.
Nice think with LL almost nonexistence debt. Even if you think the worst case, company can always dilute few mil shares and raise money if needed w/o debt. The main issue is behind us, and you will see some signs in q2 and q3 for sure the same store sales and starting to trend flat and higher. Key here is that long term future is bright. All stores are profitable. Company di dnot close a single store and open one more. I think they will end up opening 5-6 more by year end. Failing companies do not open new stores.
Now is the time to buy or hold. Downside is very limited, with nice upside. I can see 30s in 2017 w/o short covering. With short covering, hard to say. Smart short are covering today and many did yesterday i think
If that is the case, then enjoy and join them. You can buy June 2017 50 calls
they need to show turnaround, growth....PEG over 1 at least, then you can put some PE in your anlaysis.
RIght now hard to put value with declining revenue..and many analysis DO NOT TRUST mng currently..list the call, you will notice that...
even wth 3billion revenue and $3 eps in 2018,BUT growing trend, then stock should trade 45 to 55 range. Right now uncertainty killing investors.
Also, if took my time and listened every second of the call, but seems like you are just reading the transcript. So how is more interests to know the news, you or me? And if you listened to me you would have made very nice profit before the news. read my posts