Some of that three thousand shares was actually mine, but this is all Mickey Mouse trading. The real trading comes with the earnings and you will see volume.
Funny, wizard. I got BCOV on my watch list hoping that it goes lower before I get in. If it is still hovering at this level next several trading days I will buy some shares.
Now you are getting the drift of it. He pockets most of the dividend payout and there is not better way of watching the till. Stock buyback is at best a defensive measure to maintain the price till the market condition and financials change. If it helps to raise the price, it will not be significant. That is why liquidating the company best serves the shareholders. At the current price distributing the cash will immediately yield $6.00 of profits per ADR share, not considering the liquidation value of the rest of the company assets. This is equivalent of a market price of around $8.00. How long do you have to wait before you see $8.00, if ever, even with a stock buyback program? But the harsh fact is that the shareholders' interests are in conflict with those of Mr. Hong. Thus short term trading of price fluctuations is the only way to make money on this stock. Those who are focused on the dividend see the tree and missed the forest. You see the forest but are still asking for a Band-Aid solution.
Thanks for the post bufordshinghway. I would have fully agreed with your view before the CEO's phony buyout offer and the long and abnormal delay by the board in making a decision which was no decision at all since the CEO withdrew his offer as I had expected. I still tend to agree with you though I would not totally dismiss the possibility of a cash offer. Despite the Chinese tradition, I am sure you are aware of other Chinese companies going private though the reverse merger has been much more common. In either case, the prospects are very positive and I hold a truckload waiting for much higher prices.
Nice trick and foretelling. It now also explains why my sell at $2.57 when the bid shown was $2.57 sold at $2.61 two days ago.$2.61 was the hidden bid while $2.57 was showing in order to bring the ask down from $2.62.
after the CEO and his associates withdrew their phony buyout offer? In the light of his comments in his last announcement I now consider a less likely possibility but not implausible. He can still come forward with a cash offer of $4.00 or better for the remaining shares and own the whole company.
If immediately getting $6.00 profit per ADR share is a stupid idea then you need to get your head examined. Perhaps you didn't like my Walmart mass marketing idea as a lesser alternative. Well, is the little more upscale J.C. Penny a better choice? But if you think Zuoan is the Chinese Christian Dior, you need your head examined on that account as well.
drocket, he does take one step forward but only after he takes two steps backward. Nothing like your early 1960s Cuban or Italian versions of Cha-Cha. If you were to think of it in terms of dancing steps, the most apt name would the CHOP Dance. And there lies the genius of our CEO by creating his own genuine dance. Just try the "one step forward, two steps back," CHOP dance at home and you will see the magic.
My long OINK friend bu, I think our fix comes from writing about our favorite stock, but you are far more talented and erudite than I am.
Thanks for this post and the video oolong. It is a very close and accurate representation of what is happening in the field after our CEO's retreat hunkering down in his bunker and planning his next ambush. And in the midst of all the noise of the battle I can clearly hear him asking repeatedly: "Who is in charge here?"