RE:RE:RE:RE:RE:RE:why are we down?
Tax loss selling is a laughably over stated factor on these bullboards used to explain share price declines. It's no 'silver bullet' explanation for why E has fallen from its highs. If I were to wager a guess, I'd bet that less than 1% of the float has been sold to 'lock in' tax losses.
What you have here, plain and simple, is an illiquid, small cap stock in the penalty box and rightfully so. Management has been spending like drunken sailors, promising synergies, growth, yadda yadda -- and delivering on nothing. Will Q4 be the best quarter yet? Absolutely. They have a multiple of the equipment that they used to have. Does that mean that the stock is undervalued? Absolutely not. They financed these purchases almost entirely using money from equity issuances and, until they can prove that they can boost EPS and CFPS to justify the capital allocation, they're going to remain in the basement. Len and Dez's used car sales pitch is getting old and it's on them to demonstrate that they have a plan and have learned from their circa 2007 ways. Based on their $30-$45 million revenue estimate for next fiscal on a $6.5 million 'rent to own' asset, I'm not convinced they have learned anything.
This will be a terrible stock to own until Q4 results show some positive results (and cost control) and not rebound anywhere near $1 until they show it for a couple of quarters. Just my opinion.