Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
People are looking for this to react like an OTC - its not going to!
This is a big board stock and the moment it was pumped the SEC halted it as they do!
Its fully reporting and under SEC regulations! Darth should have known better IMO - decent company but to pump it was a mistake!
FFI anyone think this has juice left? I heard things are happening but the volume doesn't seem to think so.
Been watching this since yesterday, curious as to where it could go but it seemingly continues to decline :-/
FFI
STILL Waiting for the boom .. i have to admit it would be nice to see
$FFI .49s Kabooom today!!!
This is truly remarkable. The internet is on fire with talk about FFI, and we had yet another catalyst unleashed late yesterday evening.
Take a look:
http://www.benzinga.com/trading-ideas/long-ideas/13/03/3426307/benzingas-small-cap-movers-for-monday-march-18-2013
Leading financial media site Benzinga.com initiated coverage of FFI yesterday around 7pm, listing it in FIRST place as its top Small Cap Mover under their "Long Trading Ideas" section.
Benzinga.com is HUGE!
This has only happened one time before, when Benzinga.com covered one of my past picks after it had a huge Day 1, and also listed that stock as its #1 Microcap Mover.
That stock was WNYN, which up until CNCT was my best winner of all time.
But WNYN was #1 under Microcap Movers. FFI is #1 under SMALL Cap Movers.
That makes a world of difference. Big time money like hedge funds and the like do not, generally speaking, touch microcaps or anything on the OTC market. Big time money LOVES undervalued, catalyst driven, big board plays and FFI should tickle the buying bone of some of the biggest players on Wall Street...something my other picks never even have a chance to do.
I believe there literally will never be another play like FFI again.
The power of FFI, and why you'll likely NEVER see anything like this again, can be summed up like this.
Most times when there is a "pick" issued by a newsletter (including mine), there are insiders who want to sell some of their stock to you. With FFI, the company insiders actually want to buy your stock from you...and at a huge premium to the market price.
The insiders at the company know they have something extremely valuable on their hands and are willing to throw a few small time investors a bone and hand them what seems like a huge profit in order to gain control of their stock, take the company private, and gain almost total control over an extraordinarily valuable private entity.
But the shareholders seem unwilling to be bought out, even at, as of Friday's close...a 205% premium over the market price.
It almost sounds too good to be true, but their very recent SEC filing confirms this is what management is attempting to do.
While I certainly would NOT rely on a deal like this going through, it certainly is a major catalyst for extreme trading gains.
Why would it not go through? Because many shareholders feel the price offered of 61 cents is a rip off. This is a fact. I did some research and was able to find that some shareholders have gone the route of threatening or actually filing lawsuits against management, alleging that the 61 cent price offered was indeed, a rip off.
While it's tough to determine what FFI could be worth exactly, the rare assembly of multiple extremely powerful catalysts would suggest in my personal opinion that its share price could easily exceed $1 or more in the near term.
Take an already extremely small float, add the fact that insiders actually want to BUY that extremely small public float back from shareholders in an attempt to take the company private at a steal of a deal, and enrich themselves greatly in the process.
I say we tell them to take their lousy 61 cent offer and SHOVE IT!
Just joking, you should of course consult with a licensed professional and make prudent and risk-minimized investment and trading decisions.
But I'm not joking about real actual shareholders being outraged at a 61 cent offer.
(Remember, companies can use all sorts of tricks to get out of paying you anyway. So I would not rely on this offer, and I personally instead view this as purely a major catalyst for potential immediate term trading gains.)
So if the big boys aren't liquidating stock, and want to buy up the little bit is out in there in the public float...could this end up being the biggest rally to hit the NYSE MKT in recent history?
Only time will tell, but I certainly can't recall ever seeing so many powerful catalysts going off at the same time.
Read my recap from yesterday's close below to learn about ALL of the massive catalysts, from being yesterday's #1 gainer in the Big Boy market, the upgrade to the ultra-rare 100% BUY rating at Barchart.com. From the super low fundamental ratios like P/E and P/S, to a float that is so tiny that I believe triple digit gains are headed our way AGAIN today.
I've never been this excited and I'm begging you not to miss this one.
________________________________________________________________________________________________________________
What a day!! Truly amazing, yet again.
Before we talk about the huge news, my little "secret" I was saving for Day 2, let's talk about what happened today.
FFI was the #1 Gainer in the NYSE MKT!
#2 Gainer was up 15%, so let's just say FFI may have gotten a little bit of "extra attention" for its performance, and that will cause EVERYONE to be watching FFI for a further breakout tomorrow.
FFI hit a high of .77 today, representing a 285% gain!
That's a gain of 166% over the open, and we're just getting started.
At the close, FFI was up 145%.
Triple digit gains may be common on the OTC market, but on the NYSE MKT it's something you almost never see. This WILL blow everyone out there away, and create a HUGE audience for tomorrow.
Do you know how many people check the day's top gainers for the NYSE MKT, compared to how many check the day's top gainers for the OTC market?
I'd imagine 5-15x more traders check what's going on in the NYSE MKT than check the OTC market.
Despite the fact that a lot of big newsletters released a lot of "big picks" today, FFI still traded record-breaking volume. With huge winners, volume tends to increase each day. If FFI stays strong, and tomorrow's volume is as big as I think it will be, today may have just been the tip of the iceberg.
And unlike iceberg lettuce, which has no flavor and virtually no nutritional value, this iceberg is teeming with flavor AND nutritional value.
FFI also topped many lists today that track the market's overall best performers, regardless of what exchange they trade on.
That's a LOT of buzz for FFI that was generated today.
I love the way FFI looked as the #1 Gainer on TheStreet.com, famous as the site of Kingpin Jim Cramer:
This could go both ways... back to pre pump sp or it holds. Good Luck!
What exactly has the Psycho done that's illegal?
the Stock Psycho made a huge mistake this time (imo): PD's should always stick to the OTC land, companies trading beyond OTC have their hands tied and the SEC on their ass as soon as they start the manipulation..also these companies are usually current on their filings with the SEC so information is very public and readily available. there is little room to play here even if the company itself wants to work with the promoter..
Pumps-and-Dumps should ALWAYS stay on the OTC/PINK. -- that's where the players/traders/gamblers are...hence the market for these POS stocks; you leave the OTC/Pink land, you leave your supply/demand behind..
gl
BB&T, Morgan Stanley, Rhumbline Advisors, UBS AG, and even Wells Fargo are listed as Major FFI Shareholders according to the latest report!!
Float just over 4 million.. not sure why NYSE stock can be at .20s for so long.
Fortune Industries, once a diversified company, has successfully shifted its focus to become a Pure-Play Professional Employer Organization (PEO)! This transitioned Fortune Industries into the 5th largest publicly traded PEO in the United States, with $30 million worth of assets.
http://ffi.net/
$FFI Sold at .6065
FYI what did you sell FFI @?
Ya, pretty interesting...
Ya, pretty interesting...
Stock Psycho put this out on his newsletter this morning.
Good question. First the open was delayed.
I thought this was supposed to be a 60¢ buyout for those how held less than 501 shares, but we have traded as high as 77¢ this morning.
No news?
LOAD NOW!! Fortune Industries, Inc. (FFI)
FFI , make about 200 bucks? >>> Each record and beneficial owner of the Company Common Stock (the “Holder”) holding fewer than five hundred one (501) shares thereof on the date of the Merger Agreement and until immediately prior to the effective time of the Merger (the “Effective Time”) (including any heir or devisee of such Holder holding such shares pursuant to the laws of descent and distribution in that Holder’s domicile), such Holder’s shares of Company Common Stock issued and outstanding immediately prior to the Effective Time will be canceled and extinguished and automatically converted into the right to receive Sixty-One Hundredths Dollar ($0.61) per share, without interest and less any applicable withholding taxes (the “Small Block Holders”) (a 22% premium over the volume weighted-average closing price of our Common Stock during the 30 trading days before the Company’s board approved the transaction);
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8785128
Thanks 2 SSP!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85480688
watching for a bit
You loading back up here at $0.24?
I sold on D-TOP..watching for re-entrance
hope we will get to 50 cents in couple of days
run continues... hoping to test 52 wk high next week
LOL, how is there no chatter going on today?!? Almost hit $.39 earlier on 500k volume so far.
Agree.. this was trading in 40 cents+ range just last march.. that too with the merger.. I see more room to go from here.. with trading float 4.8 millions.. this can move faster on more $ volume
Profit takers EOD...nice green close should alert scanners
Looks like we'll need a power hour push to get back to .29/.30
I think this may be the catalysts to get back to the old PPS of spring
Before the going private announcement, this thing was holding $.40, so I bet we'll be back there soon.
I want this to close above .29 (200MA) .30 or above and this flies tomorrow and coming week I believe
We've hit $.30... I'm looking for that 93k at $.30 to be cleared out before the close, with a HOD close at $.31 or $.32.
This one is an unknown quantity, but awareness has begun I believe
Sm Cap Momentum stocks $FFI Fortune industries ^75% 775 trades & 639K shares traded
Great news, I think we have a great chance
Is this thing being shorted? The amount of downward pressure on it is crazy.
kinda sucky,lol, u think it sticks?
You are correct, the 3/26 record date stipulation wasn't announced until it was included in the filing.
That's not the "or" I was referencing. This one:
(i) on March 26, 2012 or (ii) on the effective date of the merger
when was 3-26-12 officially stated as "record date" ?,wasn't on PR on 3-26-12..and the ex-date would have been 3-21/22-12..seems a bit shady to me but i get that company doesn't want to give away free money,lol.
similiar thing happening on HMPR..tankage after ex-rights date..with today as record date
Upon the completion of the merger, each outstanding share of Common Stock owned by beneficial or record holders of 501 or more Shares: (i) on March 26, 2012 or (ii) on the effective date of the merger (the “Large Block Holders”) will continue to own the Common Stock of the Company which they currently own, which will be deemed to be shares of the surviving corporation’s common stock
yeah for more than 501..under 501 but after this record date is unclear
It states two qualifications to be considered a "Small Block Holder" (Own 500 or less shares on 3/26 + hold until Merger is completed). Then says all others will keep their shares after the split.
"If you are not a Small Block Holder you will continue to own your shares of Company Common Stock which you owned prior to the Merger."
Followers
|
10
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
131
|
Created
|
10/16/10
|
Type
|
Free
|
Moderators |
Fortune Industries, Inc. is a holding company, engaged in providing human resources outsourcing services through co-employment relationships with their clients. On November 30, 2008, the Company completed a transaction to sell all of the outstanding shares of common stock of the wholly owned subsidiaries James H Drew Corporation, Nor-Cote International, Inc., Fortune Wireless, Inc. and Commercial Solutions, Inc. On November 30, 2008, the Company sold or discontinued operations in its Wireless Infrastructure, Transportation Infrastructure, Ultraviolet Technologies and Electronics Integration segments. The company has now concentrated all its resources as a professional employer organization in the United States. It provides human resources outsourcing services through co-employment relationships with its clients. The company's services comprise human resource consulting and management, payroll and tax processing and management, worker's compensation and risk management, benefits administration, unemployment administration, human resource compliance services, 401k and retirement plan administration, and employee assessments. It serves customers operating in various industries, including healthcare, professional services, software development, manufacturing logistics, telemarketing, and construction.
Corporate Governance:
Board of Directors: Carter Fortune (Chairman); P. Andy Rayl, David Berry, and Patrick Ludwig (Directors)
Corporate Officers: Tena Mayberry (CEO and President; winner of 2009 Nashville Business Journal "Women of Influence" award ), Randy Butler (CFO), P. Andy Rayl (COO)
Recent News Headlines:
Outstanding Shares: 12,235,790 as of February 14, 2011
Further information can be found on the company's website http://www.ffi.net/
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |