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ModusLink Global Solutions, Inc. Message Board

spook2b 150 posts  |  Last Activity: Dec 24, 2014 6:04 PM Member since: Jul 4, 1999
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  • Guess it's not a big surprise, but the latest short interest report released tonight showed that as of 12/15, there were 10,023,103 AVNR shares sold short compared to the 13,827,419 shares reported just 2 weeks ago. I suppose it's possible that there were some traders who sold short when the share price hit $17 as a hedge, or insurance against the possibility of the buyout falling through. At any rate, a net of 3.8M short shares were covered during this period.

    MERRY CHRISTMAS to the shorts - consider getting work as Santa's elves.

  • 27,131shares at an average cost of $3.5938. I'm wondering if the larger blocks this morning may have been H&H too.

  • 650K to Raj, 250K to Gustafson, 100K to Turgeon. Exercisable @ $7.24. Vest over a 3 year period.

  • Reply to

    more Handy & Harman buys

    by spook2b Dec 23, 2014 9:49 AM
    spook2b spook2b Dec 23, 2014 11:59 AM Flag

    As to the reverse/forward split, here's the wording from the proxy:

    We have a large number of stockholders that own relatively few shares. Specifically, as of October 17, 2014, approximately 59,400 stockholders (including approximately 1,804 of 2,499 registered stockholders) held fewer than 100 shares of Common Stock in their accounts. These stockholders represented only approximately 2% of the total number of outstanding shares of Common Stock. Continuing to maintain accounts for these stockholders, including expenses associated with required stockholder mailings, costs us at least $175,000 per year.

    The Reverse/Forward Split will reduce the number of stockholders who own relatively few shares, resulting in a cost savings to us.
    ================
    So, if they get 2% of the shares o/s, that's .02 X 52.5M, or around 1 million shares.

    My sense is that several factors could be contributing to the present volume and price increase. First, I think there was some tax-loss selling in the last few weeks, which has let up. Also, the H&H buying is a factor, which could be triggering buys by other parties. The short interest figure has been falling, now at about 10%, down from a high of 15% - again, due I believe to hedging the convertible notes. And, at some point, you have to think management will make a move of some kind to utilize the NOL's. At this point, we're also toying with the 200-day moving average, which is presently at $3.73 (EMA is $3.66), so that could be triggering some computer buying.

  • On 12/18/2014, they bought 106,937 shares at an average price of $3.5732.
    On 12/19/2014, they bought 65,021 shares at an average price of $3.573.

    I believe this accounts for the increased volume on those two days - which I pointed out at the time. This morning's volume is already over 61,000 shares after only 18 minutes of trading, so it looks as though we may see higher volume again today.

  • Looks like around 2M shares in the last 2 minutes, and some big blocks are crossing a/h. My best guess is this is due to options settlement - I think this is a "triple witch" day.

  • That's a lot for this security. Also, over 100,000 shares traded in the last 10 minutes.

  • Reply to

    $3.60 is a resistance point

    by spook2b Dec 18, 2014 2:37 PM
    spook2b spook2b Dec 19, 2014 1:08 PM Flag

    fed, I agree that the moving averages are possible resistance points, and it's important that we decisively broke through the downtrend we've been seeing in the 50-day MA. I think that may have pulled in some of the computer-driven models that key on that breakout.

    My comment was mostly based on a look at the one-year chart for MLNK. If you draw a horizontal line at $3.60, you'll see several occasions this year where that area acted as either support or resistance. From the very meager amount of information we get, we do know that management is taking certain actions such as the forward/reverse split, we still have the NOL tax credit, we're in a period where MLNK has typically shown seasonal strength, and the trading volume and price are picking up. With MLNK, it's rather like trying to read tea leaves, and many consider technical indicators such as moving averages & resistance points as akin to that. My gut feeling is that we're heading up, but my gut has proven wrong here before. Let's hope that we see a lot of resistance points fall as the share price moves up.

    GLTA mlnk longs. As I was writing this, the pps popped up to $3.63.

  • Reply to

    More on the price increase

    by fedele123 Dec 18, 2014 2:25 PM
    spook2b spook2b Dec 18, 2014 2:51 PM Flag

    fedele, your point on the end of year share price increase is well taken. If you think about the people who bought MLNK earlier this year when the stock was above $5, we undoubtedly had a bit of tax-loss selling in the last several weeks, which put pressure on the share price.

  • Looks as if we might break through. fedele's comment on the rise in MED pps is pertinent here too, but with today's volume, I'm guessing that something is up.

  • Reply to

    Be grateful for the Otsuka $17 a share offer.

    by yi71 Dec 18, 2014 12:10 PM
    spook2b spook2b Dec 18, 2014 12:53 PM Flag

    OFP, Razor, Nirvy, Falcon, Ray, Wink, Sarge, Rooster, #$%$, Ondurata, Koufax, and all I missed,
    what a long strange road it's been.......................................

    tom6c, amen to that! Grateful Dead is one of my favorite groups for obvious reasons.

  • Not sure what exactly is going on here. I did see an SEC filing very late last night showing that HNH had acquired another 1,404 MLNK shares Dec. 15 - not exactly a large amount compared to the 6M shares that HNH & Steel Partners already have.

    I did see that the reverse/forward split was okayed by the majority of shareholders, so I'm guessing that will happen at some point. We know that management will play this close to the vest and us small shareholders will be the last to know what's going on if anything. Hopefully something to mitigate the suffering of long-time holders here.

  • Looks like he sold close to 278K shares on 12/15. He still has 914,249 shares and it looks like 976,769 in options.

  • Don't see any news, but maybe we'll have a party - a?

  • spook2b by spook2b Dec 16, 2014 12:16 PM Flag

    11:35:11 -- $ 16.93 -- 1,000,000

    I think we had a large block yesterday at about this same time.

  • Reply to

    just got a partial fill @ 91 cents

    by spook2b Dec 16, 2014 9:09 AM
    spook2b spook2b Dec 16, 2014 11:54 AM Flag

    Got a fill at 70 cents while I was at breakfast, so yes, I should have waited, but this is by no means anywhere near a big holding for me.

    It looks like I have you on ignore, so probably sometime in the past I decided you weren't a very informative poster. Look up "schadenfreude" and tell me if that applies to your apparent glee here this morning.

  • I canceled the rest of the order to see if it drops lower.

  • Reply to

    I'm guessing CNCE was "party A" in this AVNR filing

    by spook2b Dec 15, 2014 1:00 PM
    spook2b spook2b Dec 15, 2014 3:09 PM Flag

    nope, Otsuka was always referred to as "the parent" in this filing.

  • From AVNR's SC14D9 filed on Friday:

    In parallel to exploring potential licensing and co-promote agreements, the Company [AVNR] regularly explored potential acquisitions as a means to enhance stockholder value. Party A, a public biotechnology company (“Party A”), was among the companies with whom the Company had discussions. In May 2013, the Company entered into a confidentiality agreement with Party A with respect to a possible acquisition of Party A and began exchanging certain non-public information with Party A.
    ......
    On February 19, 2014 the Company submitted an indication of interest to Party A to acquire certain assets of Party A for cash. That offer was rejected by Party A as insufficient, but the Company and Party A agreed to continue to engage in discussions.

    Throughout the Spring and Summer of 2014, the Company maintained contact with Parent, other potential strategic partners and acquirors and Party A, and continued to consider potential strategic transactions.
    --------------------------------------------
    My guess is that AVNR was interested in acquiring the rights to dDM or taking over CNCE.

  • From Friday's filing by Otsuka:

    Have any Avanir stockholders agreed with Parent or Purchaser to tender their Shares?

    No. We have not entered into any agreements with Avanir stockholders under which those stockholders have agreed to tender Shares in the Offer.

MLNK
3.72+0.03(+0.81%)Dec 26 4:00 PMEST

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