Very disappointed that the only thing that this Bd of Directors is doing is to give themselves more money because they are going to have to work hard. Anyone looking to replace this Board has my vote!
You raise a good point about the stock. Always somewhat dangerous to own small illiquid companies. I do think things are different now as they have a substantial buy back in place. In addition, I have to believe that if there is no sale there will be some type of restructuring as they have nearly repaid all the debt that has prevented them from setting this thing up like a normal telco and paying a big dividend. Huge free cash flow. They also have a number of assets that to be monetized (ie CA wirelees partnership and spectrum). I think new floor on stock is around $4000. Would be painful but I'm not selling.
Look at CIBY. Same thing happened it gapped down from $1350 to $1220. I'm sure someone had both these shares in an account an decided to dump them in a very sloppy way via markets orders. My LICT bid ask shows $4600/4800 with last trade at $3800.
Definitely increased value based on the final prices in this auction. Just hard to say when they monetize these assets. I would think we see some sales this year. This might be one of the issues that is holding up the sale of LICT. Let's face it, whomever is interested in buying them definitely doesn't want the wireless assets. Maybe LICT trying to sell them so they can then sell a pure wireline business.
As usual I disagree. This stock is all about 2 things. Downward pressure because #$%$ CFO doesn't account for sales tax on CA rebate program and one hedge fund selling and another taking a big position in the stock.
I just cannot buy into your theory that someone has been manipulating this stock for 5 years for an eventual take out.