I don't eat rice unless I have to. However, my wife is Latin and they eat rice 2-3 meals a day. I've been a share holder for some time. I am 80% confident 20F will clear most allegations. I am confident if that happens, earnings and growth will be re-affirmed. I believe if that happens, stock price will increase to just below $10. There are not that many analysts covering the stock so up-grades will not move the stock much. Since is a small cap, won't see institutions buying and the stock price is a deterrant at current levels. It may slowly move to the $12 range with the possibility of $14 and some change since that level was past resistance.
On the plus side, the PE is well below normal for the industry. ANFI should be insulated from macroeconomic conditions. Consequently market downturns and negative economic news should impact stock price less. If the PE of ANFI becomes more reflective of the industry, could be looking at 14-16 share price. If the market starts factoring in growth, will see much higher.
I originally bought for the growth. That didn't work out so well for me. I was able to average down and average back up so I am now to a point where I have profits. It is now worthwhile for me to hold for next 6-12 months and let the stock price catch up with positive news. I would much rather increase my net ROI by holding for LT gains. The percentage difference is rather large on the government tax.
its happening because shares are thinly traded and mostly held by retail investors with excpetion of the shares retained by the company/CEO. Consequently, it is very easy for those taking short positions to move the stock down with the 20F filing still undetermined. Consequently, when the 20F is filed and assuming there are no issues, short covering on thinly traded shares will move the stock up substantially. The gamble is, you are betting on growth being as previously reported and will the 20F clear up any questionable accounting issues and...........will will this all happen.
Biotech out of favor. I keep lowering my buy target. I see LLY getting hammered today. AMGN, CELG, BMY and a few others up slightly. I would wait and see how they move. if biotech starts moving could be a spec buy. No earnings. Perhaps own for buyout but not until complete on phase 3.
I just have on my watch list. There are no fundementals with this company. The only reason to buy is on speculation. I did, made a few bucks and got out. Bios can turn but are now all trending down so there are better places to keep your $. I will re-look at $55. I would not be surprised to see $50.
I close my position on Tuesday end of day. Glad I did.
As of now, I am looking slightly above $14.50. I was able to average in below $4. My original share purchases were in the $12 range. Kind of depends on the overall market. I'm taking profits more quickly these days. If the volatility subsides, I will tend to hold longer. Stocks tend to take the escalator and the elevator down. When the 20F is finally released and should it dispell the majority of the allegationsand only minor adjustments, ANFI could see 20% to 40% upside in a matter of a few days with short covering. Still has to get back in double digits on growth and qtr reports.
You are essentially accurate. Deloitte continually ask the same questions repeatedly and the questions were answered repeatedly. Amira's opinion: Deloitte was not going to sign off due to lingering allegations. I was flat told, "Deloitte was more concerned about their reputation than completing the task they were under contract to complete". I checked out SOME of the Prescience allegations and received responses I determined were in favor of ANFI.
I don't know. I called and left a message and he called right back. I asked questions and he answered the best he could. As a CFO he has to be cautious about how you phrase statements. He was very clear in his frustration regarding short sellers and Delloite. I've had audits myself and the auditor always has several questions. I answer the questions concisely and to the best of my knowledge. When the same questions are asked repeatedly, frustrations can arise. There are frequently reporting time frames that may affect financials. I would expect to see some inconsistencies. Perhaps that's all that will come out when the 20F filing is complete. The time frame for the auditor is not unreasonable nor suspicious.
Many public entities are frustrated with analysts. Tim Cook expressed frustrations recently. I believe some of the issues are with former disgruntled employees. Not unusal for employees to be disgruntled after employment is severed.
Amira provided accurate reporting previously. Previous accounting firm was more concrened with reputation than completing reports since the negative press was generated. Amira is confident with what was previously reported. No 20F filing date set until they are confident with new accounting firm audit. Debt is served out of emerging so is double digit rates. Refi on the books was not sucessful due to negative press. Payables debt increase due to time of year fuluctuations. CFO changes not as reported. Previous CFO still works for the company. There was a re-shuffle internally. Furstration with short sellers was mentioned.
I'm guessing funds were shifted around whcih can be a big question mark for the auditers. Perhaps the previous auditer demanded some soid answers on the questions so a decision was made to engage a new accounting firm. Why 3 CFO in 3 years. That leads me to believe there are some confilcts. The balance sheet doesn't look great and last I look vendor payables were growing which leads me to believe the csh generated is not servicing the debt. I thought the rate on the debt was fairly high. I'm thinking ANFI will end up being delisted.
Over 140. China has another 30% down. I'm looking to cash out at 160 level. Owned since 78.
short time ago cramer said price was a gift well above the current price. then he critizes the analysts timing on up/down-grades.
one thing constant about markkets, they are not constant. can't rely on what soemone said last week or even yesterday.
Cramer also touted gopro and fitbit mere days before the sell off. both sold off 15%+.