You are absolutely correct, and the irony is that by September 15, the price will most probably be exactly half of $8 , and $4 is almost a certainty considering the weakness in RAS trades.
Some big player is selling RAS shares. The market is up 2% and the RAS shares are languishing.
Not a good sign at all. The Seeking Alpha article was EXTREMELY accurate, and that was when there were 8 to 10 million less shares floating around.
The new predicted price is more like $4.50 at best. We have come down from close to $8 when the article came out to where the predicted price is today.
Davis, You are in the dreamland. Look at RSO, its board just approved a reverse split of 4 to 1.
What makes you believe that Cohen's student (Scott Schafer) will not do the same for RAS? This management is shameless & has no respect for the common shareholders. RAS will most probably go below $5 pretty soon the way it is tanking. Just on Friday it dropped another 17 cents.
Scott Schaffer learned his trade from Jonathan Cohen at RAS, and see what just happened to RSO where Jonathan is the CEO. RSO is down now at $3 a share and he just announced that there will be a reverse 4 for 1 split.
There is absolutely no respect for the common shareholders.
Can you imagine that on the same day that RAS announces a measly positive earning report, just minutes afterwards it reports an 8 million share dilution at $5.50 a share? The total share count will be over 90 million now, and with a simple math you will see that RAS will need just $65 Million to pay the dividend alone on the common shares outstanding. I do not have an accurate count of preferred shares, but I can imagine that including the preferred dividends, we are talking about close to $100 million that RAS will need to just kep the status quo. How is that possible when RAS is barely generating any income??? Just food for thought.
Let's just hope that the next stop will not be the Reverse Split.
Can you believe that this stock has fallen almost 50% in the last 12 months? and there is no end to it.
Some folks have inside information and they have been selling fast & furious, hence pushing the price where it is today. DF says that these are short sellers, but that is total BS. The market is anticipating a bad report and the shares will fall to $4 range. The 18 cents will also be cut within the next 2 to 3 quarters.
That is a wishful thinking as those big boys who have been selling the last couple months are fully aware of the status of the company and its upcoming earning report. We will be lucky if it will not go below $5.
Kilgore has some valid points. I have been on this board for many many years, and I can attest to the fact that DF has been an overtly super optimistic proponent of RAS even when during the reign of Cohens. I truly do not know why he is so infatuated with RAS, but my position all along has been that everyone onto themselves. He is free to write whatever he desires about RAS. It is I guess up to us to separate the truth from the fluff.
I have been raised to only tell the truth (of course what I consider as truth), and let me be honest with you that I have lost a lot of money in trading RAS. I bought RAS originally when it was $28 a share, and then it went down to almost nothing & with reverse splits, and then 2009 came & I tried to buy more to dollar cost average.
I can not blame anyone but myself for deciding to keep buying RAS shares. It is now sitting at $5.54 a share just a few days before earnings will come out, which is usually when the shares should be going up in anticipation; however as you all know, the shares have lost almost 40% in less than a few months. For RAS to go back to $8 it will have to appreciate almost 60%, and I guess we just better hope that the shares will not go below $5 after the earnings will come out. It is however a real possibility that RAS may go down in the $4 range where its supposed book value is.
I congratulate all those who sold RAS months ago. I specially would like to congratulate Zhivago who told us clearly that the shares will go below $6 a few months ago when RAS was at $7.50 and he told us the day that he shorted the stock. This management has no credibility, nor the professionalism & integrity to think of the shareholders first and their pockets next. They have voted huge salaries for the incompetent work that they have done, and let's face it after 2009 crash, even a monkey could have had much better results than these jerks. I blame myself for staying long with RAS as long as I have.
Just take a look at the stock price chart for the last 18 or 19 months and you will see a downward spiral in RAS share prices, and where it will stop will probably be at the $4.50 level as the Seeking Alpha article which in hindsight correctly predicted this months ago. The RAS Book value has fallen and the share price with it.
This is a very sad situation for the RAS shareholders and no upward momentum is in sight.
My new prediction is $4.50 by the end of this year.