already listed on NASDAQ since March 3.
the 1 for 10 reverse split was to meet listing requirements of NASDAQ Capital Market - $4.00 minimum bid price at time of listing. the objective was specifically for the NASDAQ listing. the shares will go over $5 on their own, then those funds will come along...give it a little time.
"Why don't you tell us in clear language why anyone should even consider investing in NHLD?"
1. Massive successful turnaround
4. Undervalued when compared to peers/competitors
5. Klein owning and buying lots of shares, remaining on the board
6. Fagenson owning and buying lots of shares
I am sorry that you do not understand how to invest, but have some personal vendetta against the company for something they've done to you in the past. You have made this blatantly obvious, though not man enough to admit it.
I have seen folks just like you camp out on various stock messageboards - for 10 years and longer posting continuously daily because they owned the stock back in the 1990s and it didn't work out for them. Go look at the two bozos on the CBRX board - they've owned the stock for 20 years and they post constantly daily attacking the CEO. Really unbelievable...but you appear to be of the same ilk.
Continue if you must, but the company will do well and so will the stock regardless of what you post.
That is why anyone should even consider investing in NHLD.
And sorry to disappoint you, but it is a very good case for investment.
continuing to scale in nicely. market maker is playing games - which is ok by me. he did it with the last trade at the close today dropping it to the low for a puny number of shares.
all I can say is that January is going to be a fantastic month. everything is just positioning right now. people are tossing shares - and I'm loving it.
watching closely for sub-.40
however, with 41 million shares now, the valuation makes no sense to me whatsoever. I don't think I'm going to be able to get myself to buy this time.
the huge money is to be made shorting QBAK.
FORD is going to do just fine - that is why Wise is going to win his board seats. Wise is the single largest shareholder and down about 50% on the value of his shares. Looting FORD is the last thing he's looking to do. Owning 20% of the company, it's quite obvious that he's looking to increase the share price. if you choose to short while the shares are near multi-year lows, at cash value and below book value, just as Wise is about to win control of the board, then you go right along and do that and be sure to check back here after the results of the vote are announced.
it might help if you were able to read, but that seems to be a stretch.
The exact same thing happened at this time last year.
Shares are wildly volatile with the low float and low trading volume. Just buy some, if the shares dip lower then buy a little more. Later in January and February, people will be fighting to buy at $10. Outlook is positive - entire energy sector is in a funk because of temporary dip in oil prices.
We've seen this before.
I have had luck with a number of reverse splits getting in just before they do it - when most common folks are selling because they've been taught that reverse splits are always bad so they run away. The key is understanding the value, and with BYBK we certainly have the value, just a matter of getting consistently clean profitability and unlocking that value. What the share price is, or how many shares are outstanding should not change that underlying value. And again, there's no good reason for shares of a bank to be trading below tangible book value.
I had not ever considered the possibility of a reverse split until you first brought up SWBC a few months back, I read up on it, and saw through the smoke of what was taking place. Whereas we generally see reverse splits to get the share price up from penny stock prices to something more respectable to maintain listing requirements, in the case of SWBC, H did it specifically to knock out all the smaller shareholders and get their shares at a lowball price without having to buy in the open market or make a tender offer for them. As I said, it had not even entered my mind that it could take place here with BYBK. However, seeing and understanding the SWBC situation, I then began to think maybe it could happen. Now with this information you've found about picking up another 18% of the shares, and significantly increasing ownership, might the same scenario as SWBC be beginning to take shape?
Read the paragraph on Minority Interest Basis.
1. They were looking at the peer group for valuation at ridiculous numbers like 70% of tangible book value.
2. They then looked at the price the shares traded at. The fact that only 43 shares traded in the prior 90 day period is specifically because they shares were at $2700 with a low float, poor liquidity and trading on the pink sheets.
Let's put it this way - suppose they did do a 1 for 10,000 reverse split today with the shares at $4.50 - would you be ok with them giving you $4.50/share if you own less than 10,000 shares? I certainly wouldn't be ok with that.
Current sharecount = 11,014,517 + 559,868 = 11,574,385
* 18.13% = exactly 2,098,436 shares
East Rock Capital = 1,618,436 (as of 7/18 424B3)
Freestone = 1,081,727 (as of 8/14 Form 4)
Steven Hovde = 1,185,966 (as of 7/8 SC 13D)
Eric Hovde = 1,185,989 (as of 7/8 SC 13D)
Those listed in the 7/18 424B3 hold roughly 5.97 million shares, so I think the shares will likely be coming from some set of those folks/institutions.
Regardless, will be interesting.
Between now and Jan 1, I'm going to (hopefully) purchase a bit more shares on a dip to bring my total to a nice round number to be prepared if there is a 1 for 10,000 reverse split - however remote that possibility may be. I saw what the payoff value was for the fractional shares in the SWBC situation, and it was massively underpriced...those shareholders were ripped off.
Anyhow, it looks like there will be some movement here over the next several months. Maybe a more formal merger of SWBC and BYBK? H definitely has something in mind.