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Re: GNMK earnings out

By: smckay in ABGT | Recommend this post (0)
Fri, 08 May 20 5:39 PM | 120 view(s)
Boardmark this board | Atomic Bob's Golden Thread 		Msg. 30363 of 30749
(This msg. is a reply to 30361 by McDee)
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Yeah, I wasn't surprised by the sell on the earnings news. Since they had pre-announced, they would have needed to exceed those expectations to sustain the price rise after earnings.

What really surprised me, though, was the behavior of the price in the midst of the stock offering. It never traded 7M shares at the offering price. The volume has been at higher price levels. That's what really surprised me. I don't recall seeing that kind of action with a secondary offering and I agree that it's hard not to view it as anything other than bullish near term.

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Re: GNMK earnings out
By: McDee in ABGT
Fri, 08 May 20 12:52 AM 		Msg. 30361 of 30749

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.


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