I reckon we all will be cashing in a lot more in the months to come. This stock is undervalued. They have nicely diversified their business, and the expectation of continued growth and profitability for the remainder of the year bodes well for the stock. I am expecting we could see north of $2 within a year.Back in July 2009, this was trading as high as $9.90. The stock was murdered and left for dead. Remember, that Elliot Fund owns 20% of all the shares outstanding. They have a history of being activist. I reckon they think this stock is significantly undervalued.... Here is some info on Elliot Management http://en.wikipedia.org/wiki/Elliott_Management_Corporation
I think a couple other hedge funds also own significant stakes, as well as a couple insiders. Considering the small share count & float, as well as the large & growing profitability revenues, it should not take much to move the stock price higher on only minimal volume. It appears most the sellers are gone as it is a rarity to see bid-whacking...it just may be smooth sailing north from here on out....
Recent RILY News
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- B. Riley Financial Declares Preferred Stock Dividends • PR Newswire (US) • 04/09/2024 11:31:00 AM
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