It was well deserved. That being said, there are some major opportunities for this to go up now in a big way. Any news of a new contract or anything on the lawsuit front could quickly double the stock at this price. I expect to see the speculators start to pile in today. I don't know what the volume would be, but if it's not over the average daily volume, then I could be wrong.
It is important to remember that the $10M payout was $8.6M from insurance and $1.4M in stock. No cash difference. There is not really a big difference in where AMSC stands now vs. when they had their quarterly conference call. So, I am in at $1.57. Outside of knowing that I could have waited a little longer, I'm happy with it as a speculative buy.
The timing of the Quarterly conference call on November 7th is perfect, as they can address the ongoing's of what happened with Judge Illston on November 6th. Although we won't get anything definitively, we should see clearly that the tables have turned and there is a good chance for Sequenom's victory. If they are victorious on the legal front, this stock will be in the twenties, two years from now.
Thanks for the post. I liked the fact that you listed the reasons for optimism along with the concerns. Not cheerleading or bashing. There was a nice SeekingAlpha article this weekend justifying at the very least a short term bump should be occurring. We got slammed for being dropped from the biotech index, so it took a bad step down that had nothing to do with performance. Let's hope this good news circulates well, and we start really heading up from here. It has been a rough ride. I am really hoping for optimism on the November 6th hearing, but not sure we'll get much in either direction from it.