You know I've been watching it more closely and have to agree 100%. The days its up a little at the end of the day somebody sells 100 shares at the bid even though thousands of shares traded at ask. Today was good when somebody put 26K shares up for sale somebody quickly bought them up. I'm just waiting for tender offer for most or all of the company. Have a nice day.
I agree even worst case they will be ok. I also agree it's in California sentiment to be green and so they might go easy on them. The only lawsuit issue the lead plaintiff if you read in the 10Q that shareholder owns 200 shares, are you kidding me. The law firm certainly won't pursue it for zero profit, plus it appears they haven't actually filed everything anyway. Once the deadline in early May passes for the lawsuits and nobody files anything material that should give the stock a relief rally. 1st quarter scrap is low but the company should be setting up for a good year long rally. I think the California investor will try to take it private, but that's just speculation based on the sec filings from last couple months. Have a nice day.
Yes I agree its sad to see people trying to do this. I don't think there will be any merit to the lawsuits. It appears the law firms are asking for somebody to be first so they can file and if no takers they will just go away. I don't think Jack will just pay to go away for these folks. He will fight them hard and not lay down with poor threats without merit. If anyone remembers the minor lawsuit from a few years ago Jack didn't give up and it all went away with no money for either side. I'm not sure what a buyout price might be but the stock is very low now and I could see private money wanting it at even $4-5. They could win the sales tax issue and it instantly goes to $4+. The downside to me is very limited. My guess is wait to see how CA acts towards arci and any settlement. The net worth of the company even with paying CA if they do it's around book or less. Hope to see double or triple by years end. Who knows!!! Have a nice day.