If you read the whole statement, they are just moving from the NYSE to the Nasdaq. It's probably just a move to save money, as it is fairly expensive to have shares registered to trade on the NYSE.
Have you noticed his posts over the past few days. He has really gone wild since the stock hit 60. He really must have lost a lot of money shorting this stock.
Ames Department stores had a book value of over $10 per share when they filed for bankruptcy. Most of the book value was in "leasehold improvements" in stores they did not own.
Right now the stock is worth $7.85 per share. Golden Gate did make the offer before the company started losing money and borrowed at 8% to buy C-stores that are also losing money.
Any yes, I probably do know more than Golden Gate. Thanks for acknowledging this.
Excellent story. I like to hear positive news like this. Sounds like he had a good day.
Every investor is allowed to have any position in this company. Now, he is down about .50 cents per share on his short position - but the company got a bump today and they do not pay a dividend. So he is down about 5% already.
Please give him a chance to explain his short position and why the company will not prosper.
While I do agree with your post, I do take offense to the name calling. I've never posted under another name on this board, even though I have been falsely accused. There are a few posters on the message boards that do follow me, but I can assure you that I am none of them and cannot control their actions.
I still do not think that HPT and management will allow TA to be sold. If there really was an offer at $14 - then why did management not consider the offer? That is the real topic for discussion here.
Yes, the do own the C-stores. I don't think TA purchased them for a short-term "flip" This is not some TV show on the Home & Garden network.
Considering I was 100% accurate about last quarter's results and you were pumping the stock and how much money they were going to make (and then they showed a loss), you may want to pay attention to my advice.
My advice was not based solely on one quarter of earnings - it is also about the future of a company that exists only to pay rent to HPT.
I thought the article was very well written and picked up some more preferred shares after doing a little more research.
Good thing O owns that prime piece of real estate.
TA is pretty much controlled by HPT. Has anyone read the financial statements?
Most locations of TA are leased, with millions in deferred rent due some years from now. There would not be a buyer for the assets of TA under the current conditions.
The only news I am expecting is for the two largest tenants of the company to file for Chapter 11 in the next couple of months when oil prices head back down.
Is that price target from Jimmy Goldman from San Antonio, Texas? I think the price target at Goldman Sachs us much, much higher than you listed.
In order to become a REIT, they would have to own real estate - and this company primarily leases.
Also, companies form REITs to avoid income taxes. TA is currently losing money, so income taxes are not a concern. It would be like Sears trying to become a REIT to avoid income taxes. LOL.