Stock such as CLRO that are thinly traded (low volume) can move up and down without any reason. Someone may have decided to take profits before heading out on vacation. Or it could be the Market Makers clearing out some Stop orders.
I'm sure there is a logical reason for not doing this. But why don't they just shut down or even threaten to shut down for 30 days and see the dung hit the fan.
Some will probably say, this is Un-American, to which I say, so is running your business into bankruptcy.
You could sell half and recoup your investment and let the rest ride. Keep a mental Trailing Stop of 15% from high as a line in the sand to sell the rest. As the price moves up, adjust your "mental" stop accordingly.
Don't enter an actual Trailing Stop order or the Market Maker will steal your shares. JMHO
Stock closed at a new 52 wk high on Friday. Probably showed up on some scans this weekend when people had time to research and found out our little company is quite a gem. The stock is sitting at the high from Feb. 2014 at 14.30. Would like to see it get above 15 this week and hold.
The $385k is what they accrued for expenses, which will move to the Income Statement as Cost when they sell. I'm thinking they will sell for about $500k (revenue), thus they should make around $90-100k when all said and done.
If you look at the Q1 Balance Sheet, you'll see under Current Asset, 'Residential Properties Under construction', with an amount of $385,790. This most likely reflects what they've invested in the properties at the end of March.
Only if they had Ebola.....just kidding.....if it takes FOUR weeks to resolve, then this seems to be something that probably had OSHA involved. Was it as a result of an oversight that should have been avoided?
The more I hear from them, the more I'm convinced that they are run like the gov't. Reactive instead of Proactive.
More losses (not as big as Q1) for TX projects.
One thing that jumped out was the 4 week delay on one project in TX during Q1 due to "safety incident which caused a four week delay on one major project." This seems like a major problem that is related to bad management. Mr. Davis, are you listening?
At this point they haven't proven with their recent history that they can manage TX projects profitably.
The CEO should tell Davis to put some of that bonus to buying the stock, then he'd have a vested interest in doing a better job. He shouldn't be getting a bonus based on signing contracts, but rather producing profits from them.
For someone that contributes zilch on this board, you are in no position to call others names. In the meantime, why don't you go learn how to write an intelligible comment.