I had been accumulating and trading yong since the buyout was known. I bought the day when Ricard_RX cried fraud. I bought the days when the SEC filings were late. I bought the very day before and after the halt. I bought and sold after the SEC filings and most recent EA.
Like I said before, a dollar here and a dollar there ... soon there is a respectable pile of benjamins.
gdx, The risk in dealing with CSRC is scary enough. YONG is operating inside inner Mongolia which is an added potential horror for investors.
Remember all those once great wonderful stocks that disappeared in NYSE or NASDAQ? Even those that remains, some have not gone anywhere for decades. Go take a look at the nikkei components since 1980.
Up ~$1.732K, I had a limit sell at $5.9 but sold at open for $5.98. I have a buy order at $5.75 now and hope to buy them back.
If the institutions and retail investor are astute and not studpid, they would have loaded up below $6 and not buying above $7.
Let's hope there is going to be another buyout offer higher than $6 before share price drifts down again due to no new interest from institutions or retail buyers.
Wrong, I am loading up ,,, up to 8K already and won't stop till 12K shares
You got that right. I unloaded all a few weeks ago at $6.50 average and set to reload shares below $5.70 from proceeds from PACT and NED. Perfect timing.
Let's hear what you think the share price would open and close tomorrow if the bid was withdrawn without new bid.
If the vote-no crowd is correct that the shares were substantially under valued, there should be a big pop of 5% ot more right? Any one buying at $6.65 rtq, basement bargain rockbottom firesale ...
There are still 3 possibilities:
1. No vote and bid withdrawn
2. Vote yes and goes through
3. No vote but new vote on higher bid and/or rule change
Place your bets.
If the buyout team has anything between their ears, they would simply follow Dell's script that had successfully fend off Icaln's fight:
1. change the rule to include all shareholders, including buyout team's
2. raise the bid that is acceptable to the big shareholders for 50.1%
One week to go for the extension --- we'll soon have more clarity:
That was exactly what Dell did. In exchange for the small hike in bid, the board agreed to include votes from the buyout group as well.
Another alternative is LBO team drops the bid altogether and hope for stock prices drift lower and lower as impatient shareholders unload with few buyers willing to step in.
YONG needs more interest in this stock based on liquidity ... Lobster are cheap, in Maine this year (retail live lobster here is now $6/lb, or less. Wholesale for restaurants and stores is a lot less), because locals are sick of lobsters though they are $30 a pound in Toyko. Like Lobster, share price is what buyers are willing to pay, not what the vote-no crowd thinks what a YONG share is worth.
When did I said it would drop back to $4? Why so malicious?
If the privatization deal were pulled entirely without competing bid, there would have been a big drop. It would drift down below $6 as the stock had no liquidity --- no buyers to support its share price. mho.
done, The vote failed but there is hope with new deadline with or without rule change. Hence only a small pull back. The bet is still for a larger drop of 5% or more if the deal was terminated all together.
LOL! there is about 20K shares asking for less than $6.64. Go for it .... it'll explode to the upside right? I am checking in occasionally because I need to move my NED and PACT money soon as they are closing on their buyout targets as well.
As expected. Until the buyout group drops the bid, $6.69 npv is the floor. Another danger is if morgan Stanley decides to pull out and exercise its convertible right and take profit from its $50 mil investment:
As per the terms of the agreement, Morgan Stanley unit will purchase $50 million worth convertible preferred share of Yongye at an initial conversion price of $8.80 per share. The conversion price could trend up or down on the basis of Yongye’s cumulative net income between 2011 and 2014. However, the price can climb up to a maximum of $15.00 per share.