Given the markets decline, BH is going to have to go lower for me to buy back in.
Funny that Arwein hasn't posted recently. He should be in hog heaven now since the shares are always a buy no matter what.
I will pick up a few at $340ish and $325ish if it goes there. And $300 would be a sweet spot where I might buy back a significant number of shares.
There is much worry in the market right now. That's a positive given my large cash position.
I may be able to find some attractive bargains in the next few months with tax loss selling.
Of course, that has to be weighed against the possibility that we are in a bear market.
I know the 13 year history of this company and their use of multiple paid touts.
I am here. I apologize for nothing. I maintain that this stock is massively overvalued. Even moreso with the recent irrational run up.
I would short it at recent prices if it was possible/practical.
I did not envision the price increase. I submit its part of the pump & dump.
Calverts long term record of value destruction remains.
Nobody at BLGO has bought shares in the open market over the last 13 years.
What they do is give themselves shares on a regular basis because they cant afford to pay themselves their entire excessive salaries.
I would encourage anyone remotely interested in the stock to NOT pay any attention to their press releases.
Pay attention to their SEC filings which show 13 consecutive years of continued heavy losses with no material revenues.
Its as if every press release was designed to sell shares.
IGNORE the hype.
Read the filings.
He went to Pier One.
But they probably pay more as CFO than TUES will as CEO.
I only ask because the market seemed to respect him.
But, if he was going to get it, you would have thought it would been before Rol stepped down.
His abrupt resignation almost suggests health issues although I hope not.
Those are the only 2 options I see.
And by dilution, I mean discounted private placement shares or some other kind of subprime financing convertible into shares such that shareholders lose.
And I guess a reverse stock split too.
No position here in years.
It appears the large block was weighing on the stock. Now, the company bought it back.
Its not dirt cheap. yahoo shows a PE of just under 16.
The ambulance chasers, combined, mean nothing.
These guys are so desperate for work that their business model is going after any company whose stock has dropped for any reason and then hoping the companies will pay them something to go away.
They go after pretty much any stock that drops for any reason.
After the most recent 5 cent dividend.
Looks like they are going to semi-annual 10 cent dividends instead of 5 cent quarterly dividends going forward.
They had tender offers in april 12 and april 15 for $4.20 and $4.00.
So, we could reasonably expect another tender offer in april 18 for $3.80.
In the meantime, we get a nice 6.9% yield while we wait. (Using $2.90)
Biglari owns 16.3% and hasn't participated in either tender offer.
"Our business model has demonstrated the ability to generate consistent cash flows"
Heavily traded stocks like SO have a very small bid/ask spread. And fidelity buys shares in the open market for all fidelity customers. They charge a commission but the $7.95 is divided among all fidelity customers reinvesting in SO every quarter so its effectively free.
Even IF the market maker knew exactly when Fidelity was going to buy every quarter, it seems unlikely they would be able to profit much, if at all from it.
Every quarter I ask others for their dividend reinvestment prices and Fidelity has always been the lowest or very close to it.
I own a few ETFs where I do the same thing and over time you can see that you are always buying more shares when the price is low and fewer when the price is higher.
Almost no individual investor could do better on their own picking & choosing when to buy, and paying the entire commission on their buys.
I consider dividend reinvesting to be idiot proof.
I do it for almost all my ETFs and for SO in my IRA. I don't do it for my other dividend paying stocks or in my regular account.
Ive never really looked into exactly when they buy and what the prices were that day but in looking back at the prices of my reinvestments, I have never seen anything that looks even remotely improper.