RE: Stock Overhang Finally CompletedNo, just considering the issues. I have been long before, and made very good money with this stock, talked to the company, and the state of Michigan and took some nice profits - more than once on this stock. I am currently long now (as I said), and was only pointing out that the state of Michigan may or may not approve to allow them to go forward at this time. This has been on the docket many times - at the October meeting it was delayed to be addressed again this month, and they may do it again. They have to hold public hearings and allow challenge, and that is not a sure nor fast process. Approval has been a looonnggg time in coming - perhaps it will be November, or perhaps not.
You are right, some of the selling is probably from old paper, but there has been alot of consistent selling for some time - check out the chart, since July the volume has been significant, but the stock movement has descended to the low .30 cent range and meandered back up. If everyone were certain that this time it was going to be different, few would sell - if I knew for certain that it was guaranteed, I would triple my position. Enough to enjoy it if it goes and not enough to be upset selling for a loss and moving on if it doesn't.