Msg. 30361 of 30749 (This msg. is a reply to
30360 by
smckay)
Jump:
Easy to be an armchair quarterback...........but looks like a few were waiting to "sell on the news" (earnings that is). The management thought they'd get a bump on earnings and prepared an offering. But since there has been such accumulation and not enough shares for some big buyers, this was the opportunity larger buyers were looking for. They can get a big chuck through the offering and also accumulate at these lower prices, picking up shares for the long term. My gut tells me this may go much higher still.
With that "top" came announcement of a 7M share public offering and stock trades down to the 9s. They announce the pricing of the offering at $9.65, so I figured it would stay in the 9s until it clears that offering. Had only traded ~3M shares yesterday, so figured they weren't there yet. Nope, up 30% today. Not complaining, but a little confused, lol.
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