great post but you can't deny EXAS is a trading vehicle who's intraday price is run by HFT guys looking for quick profits. If you believe in the product you need to ignore the day to day closing ticker... much easier said than done when you have a significant stake
It's so odd to sell off on secondary offering announcement. This is part of the company's operating model and occurs regularly, so why does the market react with surprise?.... low 22 is good entry price to begin accumulating. I take it you guys have noticed your money market yield for the past 5 years.
I missed the sub $11 Gross sell off back in Sept. I won't miss this one.
I've heard all the negatives for years... crazy premium to NAV, return of capital, unsustainable payout, etc., etc. I look at this as an income only annuity with no death benefit. Just keep paying me every month and I'll try not to stress out over share price volatility.