Priced to perfection?Personally I don't believe that Ithaca can crack the $3 level until they have a full quarter of GSA production under their belt in 2014. I do believe they will get there.
In the mean time, it is looking like it is priced to perfection. Priced on the assumption that the news of the first Stella hole will show that everything is on track as expected. I'm a little worried that there might be more downside risk on slightly off news, than there is more upside, near term (30 days) potential from 'still on track' type news.
We haven't traded this high since February and $1.71 is only two weeks behind us in the rear view mirror.