The streak continuesThis is the 4th or maybe the 5th straight positive news release where the stock opens lower at the open!! I further commented that only a handful of people/traders have their way with the ITC stock, witness the 8K or so shares to trade lower.
Again, this is a very solid news release re what is ahead for ITC, but I'm going to go back and harp on our lack of visibility and coverage of ITC. The visibily issue falls on the current mgnt & board. The analyst coverage will come when we reach the Micro Cap Status ($50 to $300 million), to what extent will that take place? In the Per Imof comments of 10 days ago (I know of the company, they've been around for a while, not sure what they're up to, we will take a look at them) my read was that there was indifference, almost a sense of animosity toward ITC and then again, I could be out in left field (pass the bleachers, out of the park)...lol.
The timing of this news release drives me nuts, in the last trading days, for that matter the last hours, everyone gone and the NR fizzles!!!! Just imagine if we are Jan 4th, 2017, we're not saying fizzle here, we're saying game on.
I'll sign off by saying that yes ITC made strides in 2016 but investors (longs) were still left on their appetite as to where we could be. The insider dumping of 500K or so shares really killed the stock momentum and sent mix signals to the community, what was that all about!! My hope is that new blood can be added in the mgnt, someone seasonned with more polish and who could take ITC to the next level. Enough bla bla said, enjoy the rest of the holibay season and to 2017 and the promise land.
Cheers to all