RE:c-band auction already has tripled some expectationsNo question it's a neat industry story. The key issues here, however, appear to be more company specific.
I'm actually surprised that the stock is as high as it currently is given the long list of insiders who declined to participate in the recent $0.75 per unit offering. Depending on what value you attach to the warrant, that offering equated to a sale price of around 65 to 70 cents per BYL share and most insiders clearly did not want to touch the stock at that level.
What could be the issue? It might simply be that those insiders were nervous about what the Q4 results would look like. My guess is that there's more to it than that, that there's an insider's perception of a kind of disfunction at the heart of the company--and a disfunction that can't be gotten rid of.
There are other things that support this view. Top of the list: the huge board turnover and the record of quarterly losses that just seems to go on forever.