Looks like Klawitter just decided it was time to retire. He is 63 after all. There is definitely more to life than going to the office everyday. I hope this is why the stock has been selling off, because it's a total non-event.
Who posts the headline "Markman announcing he is leaving Mad Catz to be a family man" then strokes his chin ominously while going "hmmmmm"? You, that's who! And it was on Twitter fool. I don't read Markman's blog.
He announced that on his blog two weeks ago. You're looking kinda desperate lately E. You should never invest short term money in long term situations. The whipsaws will get you every time.
I've considered such a "% loss rule" before myself. However, the stocks I buy are typically so illiquid, just a few shares can move the price 10% or more on a slow day. I just try to invest in a story, and stay with it as long as I believe the story is still valid. Has worked for me well over time, but it does makes for some 2nd guessing and anxious waits.
but I just can't figure out what I'm missing with that stock.
Sure, it's a turn-around situation where company owned domestic production was dumped for an overseas outsourcing model, but all that turmoil and balance sheet destruction is old news now.
$2/share cash equivalents and another $1/share in fresh inventory. Virtually zero debt.
The "new" company turned an operating and net profit last quarter for the first time in several years, with growth and continued profitability forecast. Yet, somebody continues to dump at the bid. I just don't get it.
I'm long, and will continue to be so until what I believe to be fair value is reached, but I'm perplexed at the way the stock is trading.
Any of y'all care to offer your analysis?
and continues to hit the bid with sell orders. Likely the same party who has been selling for the past month, and dumped 150k shares at $2.80 or so the day before earnings. Go figure.
Seems like to me that we've had a holder unwinding a couple of hundred thousand shares over the last couple of months. Just a few thousand shares a day, but given the lack of buyers, it has been enough to steadily knock the price down. A decent earnings report will change that in a hurry.
Thursday, September 10, 2015, at 10:00 a.m., Pacific Time, at Mad Catz, Inc.’s offices located at 10680 Treena Street, Suite 500, San Diego, California 92131
(not counting exercisable options) is 1,162,000 shares, which puts him at about 1.66%. Doesn't say much for his confidence in the current CEO does it?
Also interesting is that none of those holding the combined total 370k $0.33 options have offered to exercise them even though MCZ could clearly use the $122k in cash the transaction would add to the company's balance sheet. Way to pitch in guys!
to being "in the money."
300,000 - $0.47
150,000 - $0.33
200,000 - $0.43
They'll all be granted more at the next annual meeting, but only 25% of those will vest after one year.
DR owns 1,312,500 currently exercisable options, plus another 512,500 which haven't vested yet.
True. He does hold options on 40.3k shares that are exercisable within 60 days from July 13, 2015 however. I'm not sure about the strike price. He'll get another allotment after then next annual meeting. Sure would be refreshing to see insiders step up and buy some stock!