Price slide over?Over the last couple of months, I have had several converstaions regarding the impact of the additional shares that the major transaction would have on the price and I read a few negative statements on here.
There are three factors that were pointed out to me about the influences on this stock:
1)The free trading shares from major were released just over three weeks ago and the predictions that I kept hearing said the stock would dip in the $1.25 range by March month end.
2)Something none of the negative posters have taken into account is that the brokerage year end is March 30, another downward presure on the stock
3)with the downturn of tech stocks through the middle of the month in retrospect, this stock did ok given the new free trading shares!!!
I wonder if the slide is over?
I have to consider these factors as well: They have survived quite nicely thank you very much, the initial share dumping expected when the new paper hit the street. Word was to buy all you could around the current levels (I heard that at $1.60). These guys are probably not morons and they have the balls to announce a $1.50 financing when the stock is trading at $1.25 (something that looks very good to an institutional buyer for the next round of financing). This is a non-brokered financing i.e. no brokers involved, insiders must be buying most of it.
I know by talking to these guys on a regular basis there are some good things coming. I beleived that $1.25 would be a great price to buy more.... so I bought a whack last week that the Wolverton folks GAVE away, thank you very much.
I'm bankin' on the slide being over, time to make a few.