You people are either duping or being duped.
Massive value destruction over a 13 year period.
Its a pump & dump. You are the mark.
This is laughable but you chumps just eat it up, hook, line & sinker.
provides that Mr. Strommen is to receive $23,437.50 per month for a period of four years.
Should equal just over $2.50 per share.
Been a long wait. Hopefully they can build on this going forward.
Its just too complicated for me.
Pretty sure he still has the UNAM position. Not sure why its not included. I followed him into that within the last month or so at $8.77 avg and it was back over $10 yesterday.
Its not really worth much more than $13 because they aren't making a decent ROE. But it seems to be low risk.
Ideally, they should sell the company because they cant seem to make a decent ROE.
But Big hasn't really done anything after buying his 9.5%.
Big question is can they do it gradually as the leases expire ?
I still say heavy dilution is in store. Probably via bankruptcy. That would let them get out the the bad leases anyway.
If it goes bankrupt, your PSUN shares will turn into warrants at 10 x the value of the stock coming out of bankruptcy. If that.
He had no need to buy those shares at $420 to retain control. He saw value in them. And he was buying before the tender and will be buying again starting Monday. Depending on any price restrictions he put on.
Same thing happened when he first started buying SNS. It went on to go much lower before It went higher.
Take that with a grain of salt. They have an incentive program where insiders are rewarded with extra options for open market buying.
So, you don't really get the same deal that he does. Still, its better than a poke in the eye with a stick.
I meant say, I will make 25% when Biglari breaks even on his $420 buys.
I hope it doesn't take 2-4 years. Hopefully it comes this year. But, its hard to say. Its almost as if his plan is to alienate the entire market so he can take advantage of it.
I see it went down to $325.82 to close the year. I think my limit order was 325.01 before I upped it to 335.36.
Winner gets bragging rights.
I don't expect to win.
Im going to go with 16.97. That presumes they have a bad 4th quarter and no buyout is announced.
I think it has a chance at trading over 20 but Im not going to predict it for this year.
I would like to suggest that everyone put wetsnatch on IGNORE and don't even reply to him. If we all do that, he will eventually go away. Maybe even wither up & die.
RCKY is one of my largest holdings. But, it was over 20 too, And I didn't sell enough. In hindsight, obviously I should have sold OUT.