you bet ... I can deal with things that go south with a company for various reasons, but when the Chiefs start doing a Madoff .... well, enough said
And that was the only reason... to answer your question of why it's up ... The reason behind this drop is to investors much more important going forward ... if the info that came out today was accurate, this could devastate this stock .... PLEASE ... if you should have info. to the contrary, share it.
Therefore, if you don't want to tip any shareholders off that a significant shareholder is dumping the stock, better to give yourself a longer leash and duck below the 10% requirement.
The second item, which is even more telling of what is to come for Pixelworks, is the contracted agreement between Becker Drapkin and Tourmaline Partners. Who is Tourmaline Partners? They provide trading and execution services to asset managers. This is from their website on services offered to mature managers like Becker Drapkin "Well-established managers typically have a different set of needs. With a fully-staffed internal trading desk in place, they usually turn to Tourmaline when the complexities of anonymity and liquidity become their overriding concern. In these cases, we serve as an extension of internal capabilities on a targeted basis, offering: complete anonymity, single point of access to multiple, deep pools of street liquidity." So why did Becker Drapkin contract Tourmaline Partners? Well, the contract is for Tourmaline to sell shares of Pixelworks on behalf of Becker Drapkin starting…that's right, today 3/7! Peculiar timing. See for yourself, the exhibit of the 13D amendment:
Becker Drapkin and the Contracted Sale of its Shares
Becker Drapkin is an activist fund I admire and follow closely. They first filed a 13D to report an ownership stake of almost 14% of PXLW shares in December 2011 and subsequently launched a campaign in early 2012, which ultimately earned them two seats on the board. Becker Drapkin has since maintained a significant position in PXLW, with its ownership percentage ranging from ~13.0% to 15.5%, right up until late 2013, when it starting dumping shares. Since late November 2013, Becker Drapkin has sold over 20% of its shares, or 575K shares worth $2.7M. Given its lower cost basis in the stock, I don't blame them for taking a little off the table for a 100%+ gain. However, in its most recent amended 13D filed on 2/13, two things caught my attention.
The fund sold exactly the number of shares it needed to get to 9.99% ownership in PXLW. Why is that significant? At 10% or greater ownership, you are considered an "insider" of the company and your purchases and sales of the stock are reported immediately to the SEC and available for people like me to interpret and act accordingly. At less than 10% ownership, you are only required to file an amended 13D ten days after a material change in ownership has occurred. Therefore, if you don't want to tip any shareholders off that a significant shareholder is dumping the stock, better to give yourself a longer leash and duck below the 10% requirement.
The second item, which is even more telling of what is to come for Pixelworks, is the contracted agreement between Becker Drapkin and Tourmaline Partners. Who is Tourmaline Partners? They provide trading and execution services to asset managers. This is from their website on services offered to mature managers like Becker Drapkin "Well-established managers typically have a different set of needs. With a fully-staffed internal trading desk in place, they usually turn to Tourmaline when the complexities of anonymity and liquidity bec
Panic for legit reason .... the info that came out today was based on legit info. Listen, do your own DD, but re-read the article that took this down today .... The selling by insiders ( which are no longer insiders intentionally ) and how they manipulated this stock is BS .... been long on this stock, .. but I'm out
AAPL isn't the only issue .... look at the financials they spoke of as well as the sales by the kingpins .... SOB's.
was asking the same question over an hour ago ... 82 is the $ they put on this, and bidding at 87 ... ???
lol lol lol ... you got it my dear.... just didn't want to take up time on mb .... what makes you a believer in this ... the volatility is off the charts with minimal volume ... and that concerns me in a big way
they delayed x2 ... I can only hope the report 2 wks from now is positive ... otherwise it'll tank this
the problem att is this company sucked the life out of the stock and the shareholders ... as you can tell from the board and the volume ... everyone on the board talks about other stocks, and they paid a company (with a goldman name) as well as 1 other to write ridiculous articles on these boards in order to have SOMETHING in post ..... I suppose as long as you're buying 10,000 shares you can make a few bucks every few days, but, IMO, that's about all this stock will be ... until it files for bk
Nor did many others that weren't connected to the FDA/BP inside players ... you have a greater chance of winning when there are no rules to abide by ... thus, the anger and bitterness is to be expected when you do
And visions of sugarplums dancing .. how NCE would it be to get a judgement/damages awarded .. and RI to boot ....
Without National attention ... AMRN can't afford to fight all the battles ... they made a clear statement with todays suit, I can only hope they have a team that can connect to the RIGHT news organization (s) .... The Ffda was granted balls of steel (steal), but have great difficulty when questioned because "THEY DIDN'T UNDERSTAND THE QUESTION" rendering them ... well, fill in the blanks
She, you, I and many others have every right to be so .. !!! I understand WS .. or the games rather, but for fk sakes, what happened here was like driving your car through a police barracks with a .40 alcohol lvl. .... and expecting a ride home ... THESE SOB'S ARE NOT ABOVE THE LAW ... Problem is ... they are the law and continue to profit from their appointed positions ... seemingly, more blatant then ever