I also have 8000 shares (actually I 8000 warrants). And I feel and share your pain. I don't watch it everyday. But I am trying also to be patient and hopefully see some recovery over the next couple years. I suspect it will take at least that long.
I'm not sure if you're looking at the right stock but you are completely wrong about your TACO claims. Revenues and earnings have mostly increased consistently since the LEVY acquisition and the average rating is 1.4 with 7 analysts on Yahoo when removing one-time costs (of the merger). Zacks and Valuengine rank is about 1.5 with nothing lower than a hold on either site and strong buys dominating.
Yes it is and I don't get it. I suppose it's all the shorts. Although the insider resale a few months back for $12 when the PPS was $15 started this slide and we've never recovered. At some point I imagine the stock will turn up but there has to be better PR to draw retail interest. Right now the shorts seem to own the show.
Well it seems like little is being done to promote the stock. I agree with pippo that there should be lots of upside but TACO needs investor-PR help to drive out the shorts.
Over the last few weeks I've sold (and bought back) puts for a nice little premium. Seems like every week there's some gut-wrenching but always something comes along to push up the PPS, whether valid or not, and that allows me to escape with a profit. This isn't high-rolling for me. I never use more than 10 contracts since there's significant risk, of course, but I have managed to make 4 successful round-trip trades out of this. Good luck to all.
I've long been a runner and a trader. 15 years ago a friend was tiring and slowed to a walk. I was all about finishing strong - injury or no. She said "I run to run another day." That marked me in running and in trading. I trade to trade another day. Thanks and good luck.
They didn't say that. Why would you say they did?
That's me. I bought to close this position at the open. It cost me 70 cents so 1.10 - .70 = .40 x 5 x 100 = $200 profit less commission and cost means I keep ~ $190. The news this morning was encouraging but also a little scary. I wanted 50 cents but it was obvious from the open I wasn't going to get that and honestly I was a little relieved when my adjusted price of 70 cents filled. So given where it went the rest of the day, I think there's some significant downside left.
Well it may be dangerous. VRX is certainly more risky than the stocks I usually do this for income. But it's a calculate risk. If they go bankrupt I'll be very unhappy.
Yes, exactly. I would like to buy shares for $27.90 but not $29. If I can't get them for my price, I get $550 for my trouble. If I'm assigned, then I will sell calls against my position. I do this a lot. And if I put $15K in the bank, it takes a bit of time to get a $550 return. But I only sell puts where I believe the stock is worth purchasing at a particular price. I did this at $30 for an 85 cent premium 2 weeks ago and was assigned (1000 shares). But I sold them the same week for ~$32 when it ran up after the CEO resigned. Usually I deal with more stable stocks like BMY. But sometimes a stock like VRX carries some interest and enough premium to make small trades like this worthwhile. I never trade enough $$$ that I can't afford to lose some on the position. Although bankruptcy would hurt, I don't think that's likely, at least not short term.