He purchased 375k shares because he thinks the share price will rise! his fund has made a relatively huge bet on ADES in the last year. (ADES stock represents nearly 12% of his fund's assets)
this would be a good time for some good news -- share price chart looks poised to rise. stock remains oversold on a daily basis. 15 would get SP above recent high and above 50 day moving average.
"My question is not if but when." -- a search of this board going back 10+ years will reveal repeated versions of this. "when", indeed, is the question. the "buyout" or the "big partnership" seems to be the mantra of many frustrated biotech investors.
I agree, especially on a weak day for the market overall. But would like to see more volume to make the case that the share price is likely to firm up and perhaps advance from here.
When it rains it pours for ADES. I can only imagine what the results of a management and organizational assessment performed by a top-tier consulting company would look like. Is this a fundamentally sick or healthy organization? having a sweet-spot portfolio of products and services with a bright market outlook might only be hiding the worst. pessimistic day.
have to go back to NASDAQ to request another extension to prevent delisting. also, Bustard leaving at end of December. gets two years of additional salary and benefits for non-compete agreement.
at about 23.95 now. will be a short term target re. the chart.
... and to get to production on a massive scale ... they can't get it wrong or else there would be a huge market-place and share-price penalty.
You sound displeased with this news. Perhaps another fly-by-night law firm announcement would be better?!!
if a market-maker bought 2000 calls and wanted to stay market neutral, as is typically the case, the MM would have to sell 200,000 shares (presumably a short, unless 200k shares were available in inventory!)
you might wish it was so. open yesterday: 46; open today: 2046. someone sold 2000 calls yesterday, covered or naked. you usually show more critical thinking.
Put this change in context -- it didn't all happen over the weekend. I prefer to view this CFO change as another positive sign of progress in cleaning up the mess. New board members appointed in July; announcement of more re-statements; BOD meeting last week. ... Decision to bring in new CFO (and recruitment and hiring) happened in connection with these other events and, I think, is an indication of forward movement rather than a sign of worse troubles behind the scenes.
"My biggest concern as a shareholder is the "fraud" possibility" -- and that from a shareholder. Sheds light on why others may sit on the sideline. I suppose the complicated financial structure of the deals and the company, the uncertainty that's a given in the environmental regulatory environment, the sunsets in the regulations, etc, give some even more reason to stay out.
That said, the chart looks somewhat attractive -- at the bottom of a rising channel (since May, anyway); a close above 24.50 will be a bullish move above both 200 day moving average and recent high.
A possible anchor on share price: over 2300 October 20 calls and 900 October 22.5 calls open.