Wouldn't surprise me we see a filing shortly. I know they give out many options and restricted stock but given the share price I'm betting on some insider buying and the stock price responds to around $ 2.75.
Look for 25% gross margins by q4 fiscal year on flat revenue and stable Euro. Take a look at what earnings will be then based on these margins. If we can just get the NEC deal done. If they would announce the NEC tomorrow, the stock would take off and wouldn't stop until it hit $5. Nothing has really changed but the price of the stock. I take that back, a delay in the NEC deal and the surprisingly weak Euro but does that make the stock worth 50% less overnight?
They would have canablized some of their liquidity with the purchase of Oragrande if they didn't have a game plan to sell or JV a portion of their land? Think about it long and hard.
Almost all small and microcaps are now controlled by the computers. This is my observation of watching the screen for the last 20 years. Keep an eye on the short interest. It will continue to go up until we get over the $2 level where we topped out a few months back. Short hedge fund in control of the stock until the next major news announcement. (one of 7 deals comes through or strategic partner).
I don't own the preferred but the common. Was thinking of calling the company and ask about the preferred dividend. Has anyone made the call? If so please post here.
Hey Bobo, Mr. Wizard here. Is that all you got! Lets see you take this down to $1 per share. I do give you credit in that hedge funds have full control over any stock less than $ 5 billion in market cap. Barney and friends thought they were doing good for the people of America but in reality the average day Joe is getting the shaft if he tries to buy individual stocks and looks at them to any degree. The days of certificates in the safety deposit box is again the way to go. It would not surprise me that Mr. Hedgie put together a portfolio of stocks to short as dollar gets stronger versus Euro and this was one of them. You have won the first few innings of the game but it is a nine inning game. Yes Euro is going to cost them some eps and cash flow but the 20 million in savings is still is still .44/share. Remember the 5 million per quarter starts 10/1.
Short interest is up another 400k from 6/15 to 6/30. That's the reason the stock is not going up. Once they cover or stop shorting more we will move forward. It's as simple as that.
Platinum owns warrants on roughly 7 to 8 million shares. There guy is on the board of directors. I feel comfortable knowing that. Selloff is 3 shareholders selling out. #1 is the index funds sold out (roughly 1.5 to 2 million shares). #2 is the shorts took up their short interest knowing that the index would be selling the stock. #3 - my guess is one other large shareholder is liquidating as they have had enough given the price performance. The other thing affecting is the Euro. Earnings estimates were taken down significantly because of the Euro and many hedge funds buy/sell stocks based on earnings estimate changes. The bottom line is that the stock has been whacked but the company itself is 10 times better off than 2 to 3 years ago when the stock was at a much higher price.
The games have officially ended. The shorts took their short interest up prior to the stock being taken out of the Russell 3000 index. The index funds sold out of the stock. Now the question is will the short interest rebound back to where it was 45 days ago upon the 6/30 reporting date. We shall see soon.
I didn't see a filing that they sold shares today. We may be done but will have to wait and see. If they are and along with a joint venture and significant liquidity raised, I think we revisit the upper $2 to $3 range very quickly. Does anyone have the new short # reported?
The fund is selling off a portion of their holdings as they opened a new fund after the founder died. Don't try to spin it any differently. They are not selling out their whole position.
I agree. Take the cash and buy back some bonds. Depending on maturity they are trading between 40 and 65 cents on the dollar.
Everyone of the small cap low volume stocks are now manipulated up and down by the computers. It bounced off the 200 day and at the same time went through the 50 day moving average. When that happens the computers all turn to buys at the same time.