Will be interesting to see when they sell it and to whom. Hopefully none of the bidders will be affiliated.
Any idea how they keep up with the 13.2 million if some other holders sell.
20.89 - 22.20
I had placed an order to sell half of my small stake at $22.49 a few weeks ago just in case it continued higher.
Today my sell order filled at ABOVE market. 80 shares.
Usually, that means the stock is going higher. But today, its not.
I wonder if someone bought my shares by accident ?
Looking back, I added 100 shares at $11.81 on 1/13/13, twice I got share dividends and regular dividends.
So it about a double for me. Thought it prudent to take some off the table.
One of my larger positions, where i sold very little recently pulled back almost 50%. THAT STUNG.
I wasn't smart enough to do it.
The large, above market acquisition gave me pause. It might turn out ok, but they might have overpaid.
Which should mean, what ? Interest payments for us anyway ?
Something showed up giving it a B rating by s&p.
How much per share is possible from Jamul ? I forget. Was it around $1 ?
I doubt he is making up numbers.
He has no need to. He steals from us right out in the open. We don't get a say on it. Other than selling our shares.
Meanwhile, he is jetsetting the country on our dime hitting on maxim models while maxim bleeds millions.
And you continue to ignore the fact that no matter how much it sells for, it will make profitability that much harder,
Ok, the real estate, when sold, will give them another year. However, its future rents are going to make breaking even that much harder. Also, the cap rate isn't going to be great given that PSUN might not be around to continue to pay rents for the long term.
Since when does a mall based chain "own" their real estate ?
They might own fixtures & equipment in the stores which wouldn't be worth much to anyone as collateral.
And even if they were able to sell it, they would have to pay to lease it meaning higher rents.
The company has a high likelihood of going belly up because of their debt and the fact that they have a negative book value.
Do you REALLY think I am here because I am shorting a 35 cent stock ?
You know very little about investing.
PSUN is a very risky stock. And if you cant see that, you are blind.
$100+ million in debt, no book value and $25 million market cap.
Dilutive financing is the only thing that will keep them alive.
Its not a scam, its a potential bankruptcy. Or, at the very least, massive dilution just to kick the can down the road another year or two.
Heavy dilution & a reverse split are probable if they can avoid bankruptcy.
The problem is, their rents would increase making it even harder to achieve profitability.
Don't confuse common sense with a short. Im not short anything. Ive been around & watched a number of retailers fall by the wayside.
You might not just be the smartest guy on the internet.
I suspect I have socks older than you.
Your youthful optimism may be misplaced here. At the very least you are dramatically underestimating the risks here.
Golden Gate isn't worried about their $1.75 options. They know they will expire worthless in all likelihood.
And even then, it might only buy them another year.
I used to trade this way back when, And GADZ too.
Now, I think the these stores just aren't viable. Kids can get fashion with the click of a mouse. They don't need old fashioned brick & motor retail stores.
Although Im considering buying TUES on a pullback. Difference is they are profitable and have a strong balance sheet. PSUN is dying.
3.25M Common Stock Offering at $4.75/Share.
Wow, just 3 months ago. No wonder so many are dumping for the tax loss.
Hopefully this means they wont need to do another anytime soon.
Of course the brokerages have egg all over their face for pushing it.
This is not my typical value stock but I bought in late 2012 at $2.27 and sold in early 2014 at $4.97-5.49. So hopefully I can get at least 50-60%. I had placed my $2.51 buy order just in case it happened to fall. And it did. I hadn't even looked at it in months except to maybe renew the buy order. I do that with a dozen or so stocks. Put in orders at very low priced to catch shares in case they tank.
When & what price was the secondary ?
I sold out in early 2014 at $5.49 and haven't been following it closely since then.
Would like and expect to see some insider buying at current prices.
Maybe Becker Drapkin will buy more.
Hallmark reported net income of $18.4 million, or $0.95 per diluted share, compared to $9.7 million, or $0.50 per diluted share, reported for the same period the prior year.
We should trade higher.... I would think.
Not sure why book value actually went down a penny. Perhaps dilution from a higher share price ?