good post - seems plausible.
I opened a small stake. The numbers last qtr were better than I had expected.
floor is in when revenues start heading back up. altho, they came in a little than I had modeled. 30 cents seems like a place make a small wager.
you probably own alot of commodity based stocks - and suppliers to the miners and drillers and producers......
buy good companies with good balance sheets and proven mgmt teams and hold them.
$ 4.91 100
14:19:35 $ 4.70 479,110
14:19:33 $ 4.88 100
could be a fat fuddruckers finger trade?
or maybe the ambitious $15 MM real estate sale scared them off?
hard to argue against the obvious. but markets work and eventually medallion values will stabilize - and I expect more innovation and adaptation by the cabbies, eg similar user friendly apps. TAXI is well below book value - even writing down their existing book by 20% - things should be buyable here soon.
Anything below $9 seems reasonable.