..and workforce has tripled over last year
stands at 7,192,934M shares up 150K circa from prior reading.
So looks like the 3M shares traded on June 1st were bought by longs or traders but not by shorts covering.
It would be interesting to know if the buyers of yesterdays 7M shares will hold there shares or if they are just traders.
Calls for a short squeeze have never materialized in the past but the float has to be very very tight these days !
Looking forward to some news in the near future.
..intriguing..never been so high !!! 14 times average volume (of yesterday that is) and the share price ONLY went up 30%. I would suspect longs were buying today but could be wrong. Considering the free float is supposedly only 5M shares to have 7M shares exchanged does raise a question in my mind.
Another point: tomorrow we will get short interest related to mid June (from 1st to 15th). On Monday June 1st DXM spiked up with nearly 3M shares traded. If this was short covering then short interest should be down tomorrow (back to around 5M shares short ??). If it was longs buying then the float should be a lot tighter still and would make the situation more bizarre because there are just no so many shares about ( in theory that is)
So if longs were buying both of June 1st and today who was selling cuase that would make nearly 10M shares bought. No ??
Were shorts selling into today's rally ?? Any ideas ??
Would Paulson have to report his sell with such a large position. Why would he sell at these prices any way when he could have sold at $13 last summer ?
Yes there has been a small increase in the last days. Last week I am sure percentage was 72.XX (seventy two and some decimals). Can't really explain the increase at this point in the quarter. Any ideas ?
Like to add that: "guidance for free cash flow is expected to be in the range of $70 million to $80 million". When a company innovates a certain amount of disruption inevitable. Joe is not only innovating but also restructuring.
Also over 50 positions as "Outside Sales Marketing Consultant " up for grabs across the country.
Going by the job specs looks like some people will have a bright future with Dex Media.
o Career growth opportunities
o Earnings that includes base pay and un-capped commissions
I think there is a probability that new management is also seeking a debt deal with key creditors.
Ask yourself this question: If you were Joe Walsch would you work away at the biggest and most risky project of your life for two years just to see your work go down the drain because lenders (come December 2016) decide not to extend the loans ?? I mean.... realistically would that make sense??? It would mean Joe would be essentially working for nothing. Right ??
How about this scenario instead...would this make more sense ?: I (Joe) will restructure the company with the plan (that we all know) and propose new conditions to the workforce with leaner terms. Wouldn't it just make a lot of sense to ask key creditors to chip in at the same time with a new deal ?? (I will get employees to agree to leaner terms if you creditor agree to a new deal). So there is participation by all parties.
But why now ??? Because Joe has a lot more leverage now and can say: sign here or.... I leave (I am not working for two years for nothing and the uncertainty must finish here!). Come end of 2016 Joe will not have the same leverage. If he leaves now: Bye bye DXM ! and creditors will not get there money back.
It would make a lot of sense to endure some more pain now and get it ALL done and, considering so much work has been done operationally I give a debt deal some chances at this point just because it makes so much sense.
Lastly this would again justify today's share prices as negotiations are never easy and outcomes uncertain up to last minute.
Competitive base salary and uncapped commission plan that can change your life style
Comprehensive training program that will expand your existing knowledge base and prepare you for further success
On-going incentives and rewards trip. Our winners will be basking in the sun in Punta Cana in March!
Attractive benefits including Medical, Dental, Vision, 401K, Flexible Spending Accounts, Tuition Assistance
I think I will apply. I know so much about DEX MEDIA by now and could do with a life style change.
Interesting theory. I just think it is more likely than an extremely low share price is necessary to get all parties negotiating on the new terms. Let's face it if the share price was much higher who would bother ?? Like this employees and their representatives, as well as management, must be under a lot of pressure to sign off and move on. Each can blame the other and the pressure gets higher... as the share price gos lower ...I have seen it before with DEXO..I could be wrong... but it seems a plausible explanation to me and what other reason could there be for such a dramatic share price decline ?? This would also explain why there are no share buys at all by management (even at these prices ..just a little nibble come on !)
Don't understand why the 90 fund managers that own DXM stock have not been wiser like you ?? Neither did they sell when the stock hit $23 or $13 last year. I am confident DXM will rebound and price will rise as fast as it has come down. I place more trust in the CEO's business plan than in certain posters warnings because Joe has skin in the game and is putting in a hard days work. His reputation is worth something and he is putting at least 2 years of hard work and commitment into the business which is a lot more than what some others are doing here.
I wonder if Standard and Poor's credit rating for 2015 is already out for DXM ??
Last year the Standard and Poor's credit rating was already out on May 23rd and went from B- to CCC+. Share price was around $10 and dropped back then on the down grade but the bonds shrugged off the news and rallied.
Market should react to any discrepancy between what the share price is "saying" and what any ratings agency's report states about the credit risk. The shares are priced for imminent failure.
Last year's credit rating was dated 12 June 2014.
2015 report should be due shortly.
As much as the report is bound to be gloomy, and may notch down from last year, longs could be encouraged if the report says.. some thing to the effect.. that DXM is not bound for imminent bankruptcy which what the share price suggests.
I don't think the current share price has much to do with the financial situation of DXM (they have ample cash and Q2 should see a rebound in FCF) and neither with Joe's innovative business plan.
Instead I think it has a lot to do with whether employees and sales forces of the various operating units are agreeing (and signing) the new leaner terms of employment. Some of the work force is unionized as a poster recently wrote.
Virtually any news could send the share price higher.
It this the deal that was agreed too ?
"Our newly implemented pay for performance program ties achievements for long term incentives, with emphasis on creating value for shareholders. This week top 90 leader of the company gathered in Dallas, for sessions that outlined our vision for the future and created alignment with our 2015 goals. Over the next couple of months, these leaders will take vision forward to share with their own teams in a series of corporate meetings and sales rallies designed to energize the employees and activate our strategy. The idea is to ensure every Dex employee can articulate our goals, no matter where they work or what role they play in the company.
Could well be there where negotiations happening...
This happened back when Mockett was with DEXO. There was industrial action and the share price plummeted before a deal was made.
If this IS the reason for the uncertainty then many have shorted for the wrong reason. Today shorts have over 7M shares to buy back. Good luck.