Shorts desperate and PLUG still going up!
With 34m shares short, I don't think that is Mom and Pop shorting. I know you don't like actual facts, but, we longs do!
Not if one is long and in the process of accumulating like crazy as I have been, mostly in the $1.70 range. May have been longs last chance! Thanks, chump!
Shadow That is the good news dingleberry! The big money shorts will need a lot more volume to cover which means they haven't really gotten started, yet! You individual shorts are already in a world of hurt! Any individual who shorts a $2 stock is highly unlikely to have a very large amount of staying power when PLUG gets in to a major move up!
The numbers I am referring to are the 'daily short trading volume' as reported by the NYSE, NASDAQ, and OTC markets to FINRA. The numbers are reported daily after the markets close and are normally posted around 6:00 pm EST. They are numbers for that day. This is not data from analysts.
That is true, however the reported volume is from the major public markets! The 'adf' and 'darkpool' volume where most of the BS trades happen typically are not reported through FINRA. However, FINRA reported volume is a good (and likely understated) indicator of totals! If you care to work your way through the 134 pages of ' Reg Sho', you will see more loopholes than enforceable regulations. Our government at work.
In the ideal World, a lawsuit would be a no brainer Unfortunately, In the real World, it takes lots of money, lots of time (years) and even a 'layup' case is fraught with the unexpected. My experience, even when you win, all you net out is the satisfaction of knowing you were right, not much else except legal expenses. Judges don't like to place penalties on management, but, much prefer to hold the company liable. (your company) The judge will push for a settlement rather than a judgment. The attorneys on both sides will make a bundle. Management will move on unscathed and well off. Only in rare cases (Enron, etc) does any individual get any penalty at all. Fraud is hard to prove. If the satisfaction of 'doing something' is worth your time and money, please go for it, and I would love to see you prove me wrong! Just my humble opinion. I am long PGN!
and PLUG was up 2.73%! Looks like shorts are in trouble going forward!
Look at it this way. Lets say they sold 30m shares in one of their offerings at $18 per share. They invested the proceeds in real estate investment that are CAD positive. They are now able to buy back the 30 m shares at $12 per share (lets keep the math simple) and hold the shares 'for investment'? For starters there is $180 m differential between what they sold the shares for and what the repurchased them for. The next time they wish to sell more stock for the 'next big deal' they have 30m shares available. One would assume the stock price would be higher, making an equity sale worth doing. The dividend is an internal accounting (0 net net) matter, but, it is $48m per year that stays internal to NRF. What's not to like?
Bradley, dar has added more insight and worthwhile analysis to this board than any other poster. Many of the regular investors on the site have gained a lot from his input! If all you have is sour grapes to pollute the board with, please move on...or grow up! Have a nice day!
dean, I have seen to many of these buyback programs that don't amount to much of anything. The headline number never happens. My opinion of NRF/NSAM management is that they have lost credibility with investors/ shareholders/ and the financial community in general. ( look at the stocks performance over the past several months) Enough 'stealth'...how about some transparency?! What the heck is going on with our company? The amount of money these guys took for themselves last year was pure greed! I know several folks who had significant positions (50k shares and up) who have sold out in disgust driven by distrust and loss of confidence in management. One 50k share position doesn't move the needle much, but, a bunch do! If I personally know several then I am sure there are a lot more. Crisis management 101, focus on what you do well and communicate, communicate, communicate! Oh, and make sure you deliver!
A quick and aggressive early purchase that demonstrates that they are serious will wake up the demand for NRF. If the program sort of meanders along and they purchase very few shares, the result will be more loss of faith in management, something they can ill afford at this point! Nice move, Hamo! Now follow through!
I would start by exercising the remaining portion of the 'forward sales agreement' and buy back shares on the open market! I would expect two impacts from that. 1) Cash to purchase shares in excess of the original forward agreement and 2) Pressure to cover a significant number of shorted shares.
A stock buyback would appear to be timely for the company......kind of like the bonds they bought back during the previous REIT slaughter!