Why did stock crash on the close?
PSEC was taken out of the S&P 600 so all the funds that invest in it had to liquidate the stock. There is no fundamental reason for the drop other than this. The company is doing great.
Sentiment: Strong Buy
The heavy option positions are having an impact on the stock. This will be over at the close tomorrow. Long weekend ahead with market closed Mon. The Feb calls at or slightly above this 23 level are very juicy. I sold the Feb 25 calls on my stock for 1.70 right at the close.
I was on four different US Air flights this week and everyone was using the GOGO E mail. Flight attendants say it is very popular.
Normal year end profit taking in the last two days. Tomorrow, Jan. 2 will be a good test. Also, we need some news from the company on revenue, etc.
If they show nice improvement, the stock will obviously soar. If so-so, it will be a dissapointment. They have a great idea but it has to translate into profits.
Given our strong year-to-date performance at CA-NA and BA, we expect to exceed previously issued guidance for 2013 and, therefore, are raising our full-year guidance as follows:
•The high end of total revenue guidance is increased to $325 million, up from $315 million. •The high end of revenue guidance for CA-NA is increased to $198 million, up from $193 million
•The high end of revenue guidance for BA is increased to $125 million, up from $120 million
•CA-ROW revenue guidance is unchanged at $2 million
Agree with you but the offer can be sweetened or completely restructured in a number of ways. We are not locked into anything yet. Much more to come before this deal is done, if it ever is.