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Cash Store Financial Services Inc CSFS



NYSE:CSFS - Post by User

Post by mtm_wiseon Apr 30, 2013 9:49pm
327 Views
Post# 21322686

DON'T BELIEVE THIS RECENT RALLY

DON'T BELIEVE THIS RECENT RALLY

Don't believe this recent rally from CSF. Since April 19th when this stock was around $1.70 it has risen over 77% off the back of what - good news (highly unlikely)?  Bad news is the order of the day for this company (and more to come), so what else could it be?  It is no coincidence that on April 2nd the Cash Store received word from the NYSE that it was in breach of being below the NYSE's 30 day consecutive reported shareholders' equity of more than $50 million.  So where could this rally have come from to boost the equity to $50 million?  Simple, in my opinion Gord Reykdal.  I would not be surprised to see insider reports from both Canada and the US indicate the CEO is buying.  Of course if true, this would be a short term and unsustainable strategy (the market always gets its way) but not suprising - this is a desperate company.  If anyone from Coliseum Capital, Stonerise Capital, Montrusco Bolton or any of the other institutional funds that have the unfortunate distinction of owning this stock want to find out what the real deal is, they will ask Reykdal the question at the next management conference call on May 9th.  I can't wait!!

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