Indeed. $3 + trading will make many shorts a little less comfortable. Today must have been an eye opener to them. If some are getting cold feet then we will see some great action until the end of the year.
I am not counting on a FCC approval this year but it could happen. Obviously, the earlier the better.
Likely related to options.
At $2.97 call options expire worthless, at $3.09 they get executed. They did set the closing at 3.09 but the actual transactions may have taken place immediately after closing.
The closing was painted all right.
The difference is that at 2.97 the calls were out of the money and at 3.09 they are in the money. Did somebody get screwed here or is this standard procedure. Promises to set up a great next (short) week .
Large blocks. These must be settlements of what was accumulated during the day.
I can see where there are buyers of big blocks but not sellers so likely these are settlements.
The better question is would the prospective customer/partner want to go through extensive testing if TLPS approval was unlikely? We know the answer, don't we?
I do. If he is still short he may have legal issues to deal with. Am inclined though to believe the former rather than the latter.
Don't forget that apart from his FCC meetings he got quite an education on this board, which may have helped hi avoid a disaster.
He either has covered or the SEC is on his case and to avoid further legal issues he has stopped posting.
Also no more tweets. Me thinks we have heard the last of Sahm. There are still others though.
It definitely is winding down now. Tomorrow may be the last day. An amazing $44 billion, some 4 times the expected amount.
Once it is over there is likely to be an upward revaluation of the spectra held by the various companies.
Bids o San Miguel
First number is the round.
22 $1,454,000 WITHDRAWN 29 *
21 $1,010,000 SUBMITTED *
20 $842,000 SUBMITTED *
19 $702,000 SUBMITTED *
18 $586,000 SUBMITTED *
No need to freak out. It is going to happen when it happens. Am sure the FCC is going about it as expeditiously as possible and will not be pressed by external factors such as stock price.
All of their decisions always have an impact on the companies (and their competitors) involved.
Sure I like it to be soon, but if it is January it is OK. I am not going anywhere.
The MB is pretty much void of any traditional posters. Have the retail investors abandoned the stock?
Notwithstanding the PPS has been creeping up. Odd, to say the least.
By capitalizing your text you are asking for bashing/pumping responses. If you are really serious about this then you could have framed it better and not with a capitalized subject text.
IMO you are trying to rile people.
Aren't you a bit silly?
Almost 1 billion shares outstanding, Jay Monroe owns directly and indirectly through other entities he owns or control some 700 mm shares.
On 9/30/14 the institutions and HFs (a total of 140) that make 13F filings owned an aggregate of 294 mm shares.
Entities that do not need to file a 13F may own several 10 mms of shares, retail ownership runs into the low eight figures a conservative number.
There are at least 60 mm shares more short than there are shares available. I doubt the institutions and HFs are going to sell at $3 or $4, I doubt the retail inwestors are going to sell at those levels, so where are you going your shares?
Looks to me you did not make it past 3rd grade.
I think he has to stay quiet now because he got a number of other short activists involved and cannot just start advocating he changed his mind. There are still some 60 mm shares short..KD may have covered or not, but they are small fry compared to the others.
Leo, this is what I know.
Sat_Fi mentioned PCO earlier this week.
PCO is controlled by wireless billionaire Craig McCaw, who 10 years ago tried to buy GSAT 10 but was outbid by Thermo Capital.
PCO was then ICO. ICO’s subsidiary DBSD then filed for bankruptcy, but the parent got $300 million in a buyout by DISH and Ergen. They also retained a large Patent portfolio with hundreds of patents.
Aside from owning the patents PCO also owns numerous companies. According to youknowitoo there are few patent portfolios of this depth/quality. Access to these would be very beneficial to GSAT. Again, as youknowitoo said, they are so good that Amazon, Google, Apple and Blackberry and have reverse engineered them to avoid paying royalties.
These companies are now being sued for patent infringement. In July 2014 ContentGuard Holdings (a subsidiary of PCO) issued a news release that the Patent Trial and Appeal Board of the US Patent Office found valid all claims of the digital rights management patents at issue.
If PCO (thru ContentGuard) prevails there will surely be penalties to pay and may result in a longer term stream of royalties, lump sum arrangement or a combination of both.
ContentGuard currently has license agreements in place with leading technology companies including LG, Microsoft, Nokia, Panasonic, Sharp, Sony, Toshiba, Casio, Hitachi, Time Warner, and Xerox. ContentGuard is owned by Pendrell Corp (PCO) and Time Warner.
McCaw also owns Eagle River Investments.
My sense is that a successful outcome will add substantial value to PCO.
Earlier this week I bought 3k. If they win the suit I will buy more. If not, I will sell. At the current price it is like an open-ended option.
Trading activity is low and the stock may well slide a bit more so do your own DD.
For me it is a long, but not unrealistic shot.