I don't think that mjs customer base is the tech savvy crowd. On top of that some might be like me and won't talk to people whom have me on speaker phone. +1 for the first to come out with a compatible portable phone.
Is he the only person who can make this stock move in the upward direction? Seems we can only get 1 good day a month. Wonder if he lost money on the last run up...
Maybe no new investors will touch mj with a 10 foot pool hence the reason it can be brought down with such low volume. Even VG and EGHT are up big today and us being in the same market should be on the up and up as well...
Not every investor in the world knows the history of mj's past decisions so that idea of yours is null and void. The explanation of why none of the 68% or so of the current institutional investors isn't buying up on these days of such low volume to boost the stock price is beyond me. Any new investor who takes a look at the current trend of sideways charts will be scared off. So without new money coming in nothing will change.
Just like the earnings a couple of days ago, didn't they beat by 13 cents or so? What other stock have you seen that goes down after an earnings beat? If this madness isn't a result of manipulation I don't know left from right. 4 months of this sideways #$%$ is enough to make a man mad.
Why isn't MJ buying up these cheap shares since they just averaged paying $10 a share last quarter?
We know the dividend will never happen since that will be beneficial to shareholders. I have a strong suspicion that they view shareholders as freeloaders.
Drive the price down to $3 and get an AMAZING offer of $5 per share which will be accepted by whomever votes to let these guys keep their jobs. The preferred buyers investment will pay for itself within 3-4 years.
Does my guess have any possible accuracy?
It's almost as if they make every possible wrong move. Right now I wouldn't care if they spent their remaining cash and bought up every share they can get their hands on.
Just noticed something in the old article "Reining in costs, and about $10 million in stock buybacks, is largely responsible for the rally, Tilson said."
I wouldn't put much stock into broadshit. From the whif of #$%$ I smelled when I first looked into them, I should've sold that day.
For whatever reason I thought that buying back shares would UP the price at least a tad. Yes I also did state that they were undercutting the bids during Q3 but that couldn't have been possible last quarter if their PPS was over $10.
But by being an idiot and waiting until today to see their history with share repurchases and the fact that they don't help the share price. I now disagree with the idea.
As per a dividend I probably was in support until they flushed $40m on broardshit. Their cash reserve is the one thing that guarantees the share price can't fall below a certain level. Or so I think?
I've never been in love with MJ. Nor have I ever had any real excitement about the company. You may have seen hints of something positive from me when the price was over $9 but none on it's way down from $11.
On a positive note after wasting almost a year invest in MJ and now having my funds underwater I have found motivation to go find a job.
Sale and Purchase of Stock
2015 2014 2013 2012
($20,196) $27 ($18,704) ($53,094)
You would think that they learned from the past that buying back shares won't drive up the share price so why continue to buy back shares? That's another $72mil that could have been added to the cash stock pile. Figure they got 4mil shares with all that money. Can bring the money up to 217.4/21.8=$9.97 a share.
"The repurchase program will be funded using magicJack's working capital. As of December 31, 2014, magicJack had cash and cash equivalents of $75.9 million and approximately 17.8 million shares of common stock outstanding."
MJ made $13.5mil profits in 2015, paid 38mil broadshit and 2mil shares repurchased last year at an average price of $9.
75.9+13.5+38+18=145.4mil and divide that by the outstanding shares there would've been 17.8 and that comes out to $8.16 a share.
Can anyone enlighten me as to why they're blowing through their cash? Or make sense of anything?