Boardwalk, glad to see some old timers still around the board. I remember Authentec quite nicely as it was my second largest holding at the time. Went off at $8 or so and was surprised Apple bought them so cheaply but it had a nice run up. Long and strong Mitek for the last 3 years in quantity.
So short interest says it will take 30 days of average daily volume to cover. Ok, it may not be that much as I see you've bought June 2.50 calls for over 400k shares. Bottom line is you are still stuck. You've made a good chunk of money on your short of Kemet but you errored on increasing your short significantly around 1.50. Kemet is a low volume toy that you are experimenting with to see if you can take it to other low volume stocks. The reality is that everything went perfectly for you on this stock (global industrial recession, crazy strong dollar, NEC Tokin price fixing, etc.) and still by the time you cover you will come out with minimal profit. Next week, we will see $3 plus. We'll see if you have the guts to short some more shares at that level. Twenty years from now you will always remember your Kemet lesson and the guy who called you Bobo.
Short interest higher than it's been in a long time. Just about ready to cross the 200 day and an earnings report coming out with quarterly eps of .10 or higher. How about that weak US dollar also?
First of all, the offering allows them to sell stock or debt if they want to. It doesn't mean that they will. Most companies file shelf offerings and it's my understanding they are good for 2 years. My gut tells me they will do some type of offering but it will be soon after the price of the stock runs up once the Brazilian deal is announced. How could you blame them if they issue stock if the common runs up to $6 or $7? I also faintly remember that they had mentioned something about preferred stock.
You had me scared for a minute. I thought you were talking about Silc's corporate tax rate at 20% vs. roughly 15% they had mentioned earlier. If that were the case the eps # would have taken an unexpected hit. I was thinking that was the reason Gilad had come back as the other CFO didn't know what he was doing as to commenting on tax rate for the company.
Got a reduced settlement for cooperating. They have to pay out about 1.2 million US $. Can't get this price fixing settlements over soon enough so we can make some real money.
Shorts out in force today. Traded several hundred thousand shares and price moved 3 to 4 cents at most. Look for the short interest # to go up appreciably. Won't see it though for another month or so as 4/15 # isn't report until the end of April. (4/15 and not 3/31 number as shares shorted today fall into the next period)
Had them in around $3. I think they had this agreement in their back pocket and didn't announce it until yesterday as they were waiting for the final deal ok from Brazil. Once they announce Brazil, I think there is a high chance we go to $4 with the possibility of high single digits. Don't forget John Paulson owns 10 million shares. For all you naysayer read the last quarterly earnings transcript.
Old CFO - probably not, Israeli Insurance funds - maybe some as one of the big holders lowered a bit of their position year over year, mutual funds - not likely as 11 new funds got into the stock in Q4 and that was before the big earnings beat announced in January. My bet is they are continuing to add. Shorts - up 64k since the beginning of the year. That is my guess. The opening trade every day is an odd lot trade less than 1k shares and many times there is a market sell on the close order that gets executed like yesterday. I bet the shorts haven't a clue that the dividend is paid annually and not quarterly. The stock feels like it wants to move considerably higher in short fashion.
Rube, you beat me to the punch as I was going to post a similar note. We are right at the 200 day and had very little selling today. I think the computers take us through the 200 day up to the $33 to $34 range in the next couple of days and then we consolidate for a week or two before moving to the mid to upper $30s.
Remember John Paulson bought 10 million shares recently also and has not sold a share. Have to think he has a little bit better info than the average investor. His investment is a pittance but why would he even invest in such a little company unless it was a lay up to make some money with a kicker of the possibility of a 20 or even 50 bagger on his investment. Comfortable holding here.
I think Rigdon knows that the football is about ready to go over the goal line and after many years at the helm he is ready to take a step back and hand it off to Delome who has that much more energy. When Rigdon says that they have been told they are the preferred provider on the Brazilian deal, I can't imagine he would say that unless there is a high, high chance they will be getting the deal. My take is that the deal is 80% chance that it's going to close and if it does the stock will go to $3 to $4 on the news. I like those odds.
Sounds like 2 deals in the next 90 days. One Chalco like deal and one Mega Deal that will put the company on the map. If Mega deal comes through expect 6 to 8 times your money very quickly. Just one mans opinion. To hear what I'm talking about listen to the last two people asking questions in the Q and A.
Zero on the downside and $3 to $4 on the upside short term. Lots of talk of an agreement. Only time will tell but the risk reward as of right now is on the bulls side.