I have been continually impressed with this bank and management. I owned the shares earlier last year, sold for some profits and always wanted the shares back. Now I have them and won't be giving them up so quickly. I'm confident that within a couple years SAL will likely find itself being acquired by a larger bank and at a nice premium. In the mean time, the dividend is solid and should keep investors happy. Shares will go back over $30 in the spring.
yeah - that is one I kick myself over...was looking at it a year ago under $3.00 and should have bought then. I'll need to go and read the latest 10Q/10K and see what's happening now. it will be difficult for me to buy at this point - maybe if the shares fall back a little first. the size of the CEO share purchases recently are not very impressive, and the 10,000 share purchase was a director - I'd rather see the CEO buy the 10,000 shares. anyhow, will have another look.
CTUY board looks deserted - only one post from 4 years ago. It's a tiny miniscule float bank so I don't think anyone would bother us.
and just to be clear - absolutely nothing has changed in the past week to drive the shares down 20%, other than it being December and the time when tax selling gets into full swing.
Sorry, but I disagree...fair value is not lower than book value.
The company is sitting a lot of cash, there is miniscule debt, sales are rising, backlog is good, the company is cash flow positive, contracts continue to be announced, and the CEO is buying shares.
Last year I sold way too early when this happened - not going to make the same mistake this year.
it is simply tax selling. take a stock with no liquidity, throw a set of people who are looking to toss their shares, and there you have it. people are not in a buying mood when they know how BWEN shares are so volatile and there is more selling than buying.
I will continue to slowly acquire shares if/as they trend lower. come January, they will snap right back.
interesting - and during 2014 the street also bid the shares up to $14 - so that wasn't wrong either.
now, when the shares go back up after Jan 1, what will your story be?
Report this morning indicated wages on the rise - this was the key piece of data that Yellen was waiting for. I suspect they'll probably wait for the next report for confirmation, but this is certainly the first hint that interest rate increases are likely to begin in Q2 or Q3 2015.
At the end of the day, it really doesn't matter. The article, if it's having an effect, will only be for a couple days. If you know the stock and the trading, you know that the shares get manipulated and pushed around. Once a seller is done, a measly 100 shares can jump the price 20 cents.
The tax sellers are going to continue unloading, shorts who think they're smart will play their game for a couple days, but will also cover, or pay the dividend soon.
Best to ignore the price unless you are looking to sell or buy more. If you're in for at least the next couple months, relax...you're getting the dividend, and the stock is a January bouncer.
I believe Pro gets it 24 hours in advance of the rest of the world, so it likely had something to do with what we saw today. if author was shorting or told any friends in advance, then maybe a day or two earlier as well.
the author is naïve.
if that article was part of what was responsible for the weakness in the shares yesterday/today - I owe him some thanks allowing me to pick up more shares at the 52-week low.
when you write an article like that regarding a low float/volatile stock, it is certainly going to cause some havoc. if even just a few people sold or shorted because of it, it could certainly have caused the weakness we saw early in the day.