Like clockwork, you get a short attack right before earnings at a time when the general market is very weak and company is prohibited from buying back stock under its repurchase plan. They did this before and the stock tanked but then bounced up upon the earnings release.
Read the CEO's 2/25/16 press release- ALL positives with continued growth in all sectors. Every brokerage house following this stock has a $120+ target.
Bought today at $81 with little concern over the prospect of "bad news".
With all the patents and good news flowing from the company, it is hard to believe that the stock is trading so low. I know the past price history has been horrendous, but it also can spike higher again.
Iron ore closed on the Dalian Commodity Exchange at $59.90 metric ton. It traded as high as $66, a 6% increase. The 6% rise is the daily limit for this exchange.
Clearly there is tremendous pressure on the pps. Privet wants out and is shooting itself in the foot by advertising its intent. Privet was wrong for buying such a large position and is wrong in dumping the stock. You would think that Privet would have offered the stock back to the company so as not to disrupt the market. So is the way of hedge funds. As others have said, I would not invest a dime with Privet just based on this example.
Once the pressure is lifted I suspect the Privet buyer can get the stock moving back up, This is predicated on a positive report from Mobley- which is far from a sure shot.
Regardless, there still is substantial buying coming in. Remember, it was Privet who said, when the stock was $1.18, that the company was much more valuable then the stock price.
Why are you wasting your time seeking a reply from a guy who is short the stock and has admitted employing "scare" tactics? I have him on "ignore".
Or do a reverse merger with some more profitable company so that they could use the tax loss carry forwards. I am sure that was Privets feeling.
He has a lot of his family holding RVP stock- i.e. 61% of the stock is held by insiders. One would think that he still has the capacity to settle the case and make them a lot of money rather then taking the risk of an adverse appellate decision. He may be resting on "principle" but this may cost his loyalist group and the rest of us (not that independent shareholders matter to him) the only opportunity to cash out at a much higher price.
I agree. The buyer may be waiting for Privet to become more desperate before buying the balance at a price less then .80. On the other hand, one might speculate that the mere fact that there is any buyer at all may be an indication that Mobley may be making progress.
The irony is after Clark bought the King Air it was hardly used. I would follow the flights on "Flightaware". It was used mostly for short hauls between AIRT's base of flight operations and the administrative offices.
What can SB do with his large stake? He is stuck with his position without any viable way to bail out without driving the stock much lower. I am pretty sure that Nick would have no qualms about picking up SB's stake at a fire sale price. At that point Nick could drive the PPS back up very easily leaving him in total control. He would also stand to embarrass SB big time if SB sells out at a loss. This is probably the reason that SB is very low key about his AIRT investment.
Although I agree that there is probably a limit to AIRT's growth in its traditional businesses, I was surprised to see the extent of material increases in the profitability of the deicer and cargo segments. I admit that I never understood the ISIG investment, which was one of the reasons why I exited the stock when SB entered the picture.
Clark was focused too much on generating contracts that had little, if any, profit. As the third largest shareholder in AIRT during Clark's final year, he failed to deal with me in good faith. I was not the "enemy" but I was treated that way.
Nice chatting with you.
As unbelievable as it sounds I very much doubt that a Court of Appeals decision has been l"leaked".
Why are you selling? The upside is far greater then the down side.
Hey CPA. The lack of any follow through today underscores that no conclusions can be drawn by yesterday's volume. There is no way anyone has an inside tract as to the appellate ruling. When it is issued publicly then everyone will know at the same time.