It was a 1.35M trade listed at the close on LII. The 1.85M shares were the total traded that day.
With oil now trading above $40, LINE may pull a rabbit yet out of its hat!
Part of me wonders if this is some clever way to take $10B in debt and downsize it 50%?
And that's got Franky and 4WD excited! But, consider that the upside has been achieved on low volume.
Looking like a house of cards, won't take much wind to blow it over. Think $3 is still on the table.
I'm happy to hear that you're only holding ~245 shares of VOXX. That sounds so much better than Franky's 54,000 shares.
At the moment, no one wants VOXX. Institutions have been exiting and the distribution (as evident by the small trading lots) has been orderly. But, should VOXX drop 10% or more at the open, it may provoke panic with institutions exiting at any cost. You'll know it when we see a 300K volume++ day and VOXX is in the $2s.
I'm not sure it's funds, well, at least not all of it. Too many Franky's and 4WD's thinking they're getting a "bargain basement". There are millions of shares held by institutions...the same institutions that are forbidden to hold an equity like VOXX should its trade price fall and remain below $5
They missed, big. Will be dumped into the REIT wastebasket tomorrow.
Even their buyback, at the ludicrous price of $8.37/share, has lost over 10% of its value in AHs today. 12.3 million shares, now worth $1.23 million less....way to go management!
They defaulted on their LOC last quarter. What happens to Hirschmann and Klipsch if VOXX defaults on other loans?
How's that "big time bargain basement" purchase of yours doing? I hope you have a stop loss in place.