RE:RE:RE:RE:RE:Expecting the selloff to .385 Institutional holder would sell for many different reasons. They are new management so that suggests that they don’t know something special about Pivot and they are selling for another reason. They probably didn’t know much about Pivot and didn’t really care either after they saw the dud offer fizzle. Used the sale proceeds to buy one of their favourite companies they know a lot about.
I believe there is a secondary offering coming; not sure whether it will be pre or post earnings release. Price wouldn’t have run up because that is inside info, no one knows except maybe a few outsiders. I think there will be another offer because mgmt still wants the company and it appears they have their market makers keeping this thing range bound (like they did at $0.50 for the first offer).
Secondary offer or not, shareholders are getting paid 10% annually to hold a stock with very smart/successful management who are currently expanding internationally which will boost revenues, increase their margins, and drive up earnings.