If you feel that way you might wait to see which creditors get stock in the new company and approach them to buy. You will own "illiquid" shares, since they will be private, but often creditors want to dump the stock they are given to settle their claims, rather than be longer-term investors.
If anyone was still short they may have decided, since the stock will be cancelled to cover their short for the measley penny/share rather than have to wait to put in the paperwork with their broker to free up the collateral by proving to them that the stock WAS, in fact, cancelled. Just because you see someone jumping off their roof does not mean they have learned how to fly ; )
Goldman probably never heard of EVOL and would not touch an illiquid microcap like EVOL where buying/selling 1,000 shares can move the price 5% or more.
What gets interesting (since the options volume is minimal) is who was on the other side of that transaction!!
It was clearly someone who wanted to have a "floor" on his stock.
Stock is tanking because between the new credit agreement with Harris/BMO does not allow dividends or share buybacks AND
Semina (which is waiting on the Brazilian Government to pay it...FAT CHANCE) is having some issues.
Myrexis connection and possibly others. fyi MSMB Capital is the company Shkreli has been indicted for.
ALL OF THE ABOVE IS MY OPINION BASED ON MY OWN RESEARCH
Beginning of the end.
This looks like it could be heading down the tubes. I would bet a lot of money that the divvy will be cut very soon as the pressure from debt holders ratchets up!! ALL THAT SAID, I would not short the stock here as a "wild card" is always a "takeout" by someone who might genuinely get "synergies." Perhaps an Herbalife??
Looking over your track record through the years, you have gotten into a pile of "value traps" and you demonstrate a dangerous characteristic for an investor....you get emotionally involved and if your words can be taken at face value, you then double down on your losers sometimes. I have seen you on tons of boards because I screen for "net net" stocks and apparantly so do you. Why you would be defending someone who was an apologist for Forcefield Energy and is a paid "cleaner" is beyond me.
In case you don't realize it, this is his/her profession!!
That is the most ignorant financial statement I have ever heard and proves that you are a real "tyro." At any given moment (if you exclude tax-planning) you are free to sell a stock and have cash instead of the stock. Not selling the stock at a given price is IDENTICAL to the decision to buy the stock at that price. Along with that facile idea is that you HAVE, lost money if the stock has gone down, even if you do not sell. I guess they didn't teach you the same things they taught Ackman at Greely??
They have many more "issues" to work their way through. Probably best to re-name their entire operation...but then again, the founder likes to sell "good wood at good prices" (great strategy....sarcasm).
And some on this board would have you buy even more pain!!
Only caveat is that it probably also represents fairly low revenue business (notwithstanding high margins) and people are putting too much expectation (as they do with all stocks) on next quarter...when EVOL needs a longer horizon to judge their success. However, I have been adding to an already large position on the days where there is a motivated seller.
They committed to maintaining the dividend and have plenty of cash on the balance sheet . In addition they have a 21% shareholder whose son is on the Board and I am sure they want to keep collecting the cash. The company has shown the ability to generate more than is needed for the current dividend over longer periods of time, so "short" quarters like this are not indicative of the dividend being in danger.