The MM is playing with us. I buy 500 shares at $2.25 and it prints at $2.20 with no new trades.
Yesterday it closed at $2.17 having never traded below $2.20.
What is the purpose of this manipulation since nobody really follows this stock? It underscores the reason not to list a legitimate stock on the American Exchange.
not being provided any details as to the "settlement", it may be that this ends up being a positive event or the proverbial "cleaning house"
time to move forward
It is unbelievable that it is now trading with only a small premium. If they only get the damage award the stock will trade up to $3.25-$4. That equates to a 50-80 percent return.
Put an order in for 1000 shares at 3:54 pm at the offering at 2.24_got 100 shares
Put another order in for 500 at the offer of 2.25- got 100 shares
Put another order in for 500 at the offer of 2.30-_ got 200 shares
Put another order for 500 shares at 3:58 at the 2:35 offer- got 200 shares
Market closes- last trade at $2.35.
At 4:01 pm a get a notice that I bought another 300 shares at $2.29!
What a joke!
There are 3 judges on the panel. A 2 votes to 1 affirmation is still a 100% victory. The appeals court's mandate is to determine whether there was an error of law based on the facts presented to the jury. Even if the Court does not agree with the jury's factual finding, it has no right to substitute its opinion unless it concludes that there as no basis for the finding.
It is extremely difficult to win an appellate case. Remarks made by the judges during the argument could give you a clue as to where they stand, but unless they came right out and unequivocally expressed their opinions (highly unlikely) then there is no guaranty either way.
At $2.30, I risk a downside of $.75 (it was trading at around $1.50 before the verdict was announced) If they lose the 3x, the minimum upside should be a $1-$1.50 ($3.30-$4). If they win the 3X, the upside should be $5+ ($7.5-$8).
There has been a seller for months prior the oral argument. Given the thin trading they really had an easy time trading the stock down.
Picked up another 4000 shares so far today. I am buying the stock based on my belief that the intrinsic value of the company is around $2.50 without factoring in the any component of the judgment.
looks like TS and his other insiders will be the biggest losers if BD's appeal succeeds since they control over 70% of the company stock
we have always viewed management as intransigent and the biggest impediment in getting this matter settled
Good or bad? Given the past history of extreme puffing and no positive result, maybe Mobley has learned his lesson and will surprise us at earnings time. Or, maybe Mobley has failed (again) and we will get more of the same.
Clearly, there is little optimism as evidenced by the yearly low in the stock pps and the expectations are low.