$4 and they laughed...You see that is the problem with arrogant management teams.....They laugh, but then fall flat on their face with ruined lives and shareholders. The divorce rolls in, the house and cars have to be sold, the class action lawsuits start because of poor management who made bad decisions. The kids pee on your grave for being a useless dad who lost all the families money.
For example do you think ARN is still laughing at their $6 rumoured takeover bid a few years ago. Whats that worth now? .10c?
DEBT BLOWS UP COMPANIES. LEG needs to do something now, or you will see an ARN like scenario where the thing goes to .10c. Yes you may have "reserves" that are worth 1000% more then the stock price, but that doesn't matter. Did it matter for ARN? SCS? NKO? DEBT BLOWS THEM UP.
We can all laugh right back at LEG. Im laughting at him for overleveraging the balance sheet, I'm laughing at him for his lack of hedges...and I will laugh again if he doesn't take a buyout offer.. ANY buyout offer, sure I might lose a few thousand dollars if this thing doesn't work out.. But he is going to lose everything, family, friends, all his money and the respect once given by the investment community.
LIVE TO FIGHT ANOTHER DAY!