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No selling!! And if there was bad news coming, it would have leaked out by now. Ok, who wants a $2.4 billion in revenue company for a nickel!!?? LOL One with many name brand products....a cash flow to weather this recession........divisions that had offers to buy for several hundred million and debt buydown.......and a CEO....ok scratch the CEO until AH. We'll grade him then!! LOL : )
But seriously, .045? a market cap under $2.5 million?
ARE YOU KIDDING ME!!!?????
The same MM trying to push this down. PURE MANIPULATION!!! Tell me that you would sell at .045 after it oopens and buying is at .055. Let's see if Hussey has a surprise for this guy AH. I've never seen a CEO sit back and allow their stock to be so blantantly manipulated. Hopefully little selling and the MM gets stalled and forced to move up!!! Buyers? Come on!!! : ) Getting a .50-1.00 stock for a nickel!!! : )
A couple of things happened:
1. Company ran up debt and then bad economy and hedge funds started aggressively shorting stocks. When banks were placed off limits for shorting, they just went after companies like SPectrum that had low number of shares and not much buying attention.
2. Then price goes down too low and they get delisted from NYSE. And oh guess what? Since many funds and institutions carried SPC in their portfolio as a NYSE stock, many had to sell when the delisting notice came. So price goes down more and shorters push it lower.
Now we end up with a slow push down to probably cover one last time and then buy long. The MMs and shorting groups get away with it because they push it down steadily and MOST IMPORTANTLY because the &^$R(#(!!! CEO HUSSEY sits on his arse watching it happen.
They did get a bid for the pet division a few months ago for several hundred million and some debt buydown. It would have sent the stock skyrocketing but the "lenders" nixed it. I suspect the lenders are the LBOs (leverage buyout) that convinced Hussey's predicessor to buy new companies at premium prices. Hussey has to remember he works for the shareholders not a bunch of loansharks and do what is best for the value of our shares!!!
Lets see if he's been up to anything besides shooting off his mouth in the Atlanta Journal about his car racing hobby!!!
Yes, one would hope Hussey has been doing something. I mean .05 for a company with $2.4 billion in revenue. With 52 million shares outstanding, the company could be bought for a couple of million dollars. We must be in an alternative Universe!!! LOL
Over 70% traded at .05, the rest below. Total manipulation at end of day with the 150 share sell at .045. The MM is trying to set a high spread so they can make some money and they'll get away with it ALL day as long as MIA CEO HUSSEY is more interested in his muscle cars than shareholders.
Let's hope the n*tless monkey has been hiding some good news for Monday. It would sem the financials shouldn't be that good given other company earnings reports but then again how much lower can we go? Seems any and all bad news is already factored into the current price so ANY good news (including not as bad of bad news) should send us much higher.
If there was really bad news like a BK coming, that would leak out and we'd see institutional dumping of shares by now and so far the volume is anemic!!! But Hussey has to start acting like a REAL CEO that understands that letting a price sink to sub-nickel on a $2.4 billion in revenue company is not a good thing. The lower it goes, the harder it will be to move up and stay there as shareholders at some point just start looking for exit strategies.
But low volume last month says to me that most selling is over so come on Hussey get out of your dam car and start earning your big overpaid salary!!!!
Not sure if everyone already knows this but this is Redsox's new alias:
http://investorshub.advfn.com/boards/profile.asp?User=105551
Looks like he is being paid to pump another stock now. How do I know its Redsox? Because he sent me a private message a few months ago under Redsox. The message is still in my mailbox but the alias has been changed to PremierStocks. Maybe he'll fess up for you guys? Personally I sold all my Seaweed for loss. If I ever run into LYING TOM he will get the beating of his life!!!! That's if somebody else doesn't find him first!!! LOL
Another day, same story!!! CEO HUSSEY MISSING IN ACTION!! MM manipulates price at will. Email Spectrum IR demanding HUSSEY give back salary!!! A n*tless monkey could do a better job!!!
This is a $2.4 billion revenue company, with many namebrand products, with a cash flow worth more than current price and maket cap of $2.4 million.
All the while the CEO HUSSEY sits with thumb up arse!!! Demand he be paid a dollar until shareholders start to see the value of their shares return!!!!
Carey Phelps
Division Vice President, Investor Relations
770-829-6208
investorrelations@spectrumbrands.com
Tell Carey to get that arrogant dope's picture off front page of web site until he deserves to be there.
Earnings on Monday? If so, nobody dumping which is a good thing. Of course could anything worse than a $2.5 million market cap be built into our pitiful price? Let's hope the MIA CEO has somethng planned for next week. Come on Hussey, get with the program. You should be ashamed to let the price drop to these levels without putting up a fight.
Buying up to .055 and Bid Whacker starts hitting the Bid. WHY? Because he can!!! CEO HUSSEY is asleep at the wheel and this country needs to rid ourselves of these arrogant self-absorbed CEOs that care little for the shareholders!!! TIME FOR HUSSEY TO GO TO THE RACETRACK PERMANENTLY!!!!
For those that don't understand how Bid whacking works, it goes like this.
MM sets low bid at .048. Ask is .055. If a buyer tries to up the Bid to say .05, Bid Whacker will sell small order to himself at .048. The seller at .055 starts getting nervous and lowers his sell order to .048 and Bid whacker takes some and lowers bid again so that sellers feel desperate and sells to the bid. A good MM can manipulate like this all day to get lower prices to buy long or for covering shorts. As long as volume is low and CEO MIA HUSSEY sits on fat arse, MM gets away with it.
THANKS HUSSEY!!!! A N*TLESS MONKEY COULD DO A BETTER JOB!!!
Low volume again!!!! NO NEWS HUSSEY STILL MIA!!!
I guess the only positive is that ALL and I mean ALL the bad news is factored in the current price. Gawd, the pet division almost sold for a few hundred million a few months ago and we're now trading at a price of $2.5 million???? I've never in all my days of owning stocks, seen a CEO completely ignore shareholders the way HUSSEY has. Of course, seems corporate America has totally screwed America lately.
At any rate, if there was HUGE bad news on the horizon, we'd see dumping of shares and instead we see a MM manipulating the price to buy shares so maybe we'll get some kind of surprise at earnings report on Monday? We saw how fast it jumped 50% on little volume. Imagine any positve news (not going BK for example) and we could rocket from these levels. I just don't enjoy being a mushroom.
Bid Whacker is BUYING shares which is a good thing!!!
And why not? A market cap of $2.5 million for a company with $2.4 billion in revenue; with many namebrand products and WITH CASH FLOW WORTH MORE THAN PPS AND WORTH ENOUGH TO GET US THROUGH ROUGH TIMES.
The only thing missing is a REAL CEO that is payng attention to the price of the stock instead of what muscle car to race down at the Atlanta track this afternoon.
Holding on low low low volume!!! We get any news (somebody wakeup CEO HUSSEY or run down to the Atlanta racetrack and frag his butt back to the office) and we could see a HUGE increase in the pps. But we need help from HUSSEY and at the moment he is MIA!!!!
I say cut the salaries of ALL CEOs and tie it to shareholder equity and making good choices and maybe these bums would get with the program instead of funding their expensive lifestyles!!!
That being said, we are way way OVERSOLD!!!!!
$2.4 BILLION in revenue and market cap of $2.5 million!!??
The cash flow will keep Spectrum solvent and is worth more than the current price!!
Individual products and their namebrand are worth more than the current price. There was a deal a few months ago to buy pet division for several hundred million, plus payoff of some debt!!!!
WTF is CEO HUSSEY doing sitting on his hands!!!!!!?????
Email IR:
Carey Phelps
Division Vice President, Investor Relations
770-829-6208
investorrelations@spectrumbrands.com
Ask Carey if all above is true, why is HUSSEY sitting silent? Ask what he is being paid and if that is fair given stock is down 90% over last year!!
Mario HUSSEY asleep at the wheel!! AGAIN!!! Pun intended.
Yep, MM will manipulate it down. He is buying shares and trying to scare sellers down to the Ask or make you chase him down. This would not be possible if we had a REAL CEO that cared about pps. I heard a good one, somebody suggested instead of closing Guantanomo, we transfer the terrorist and replace them with all the CEO bums in this country.
Would we need a larger site!!?? LOL
WTF??? Did somebody just put in a market sell? Well here we go "NO news HUSSEY" and the manipulation restarts!!! Thanks HUSSEY!!!!
Here comes some buying!!! Looks like any significant buying will need to be at the ASK. NICE!!!! Let's get this sucker to the teens next.
Gawd, I never thought I'd hear myself saying get a $2.4 billion in revenue company into the penny teens!!! Those that take the risk here could be in for a HUGE reward.
What would some news do? We bounced 50% yesterday on no news and little volume. Looks like the MM trying to drive price down has maybe disappeared. Now all we need is "no news Hussey" to man up and be the CEO that cares about shareholder equity. Because some good news and volume and its a multibagger. Maybe more emails to IR?
Who said you were getting shares? You'll notice LYING TOM skirts that exact detail in all of his PRs. My guess ownership goes back to Seaweed, in which POS TOM eventually converts his preferred and owns 80%. Where did you get the idea common shareholders would get anything?? LOL sorry dude, but we've been robbed and TOM WILL PAY, ONE WAY OR THE OTHER!!! HEAR THAT TOM!!!???
Oh well....load up on cheapies while you can!!!!
In other words, smoke 'em if you 'em!!! LOL
No way a $2.4 billion in revenue company with namebrand products is going to keep selling for a $2 million market cap!!! Just a matter of time; hopefully less than more!!!
Hussey still down at the racetrack? LOL Come on Kent, you have shares as well!!! Time to man up!!!! : )
Well lets see what happens in the AM. Hussey has got to be thinking some action of some kind is necessary. To just sit back and watch the price tank is something HE will be blamed for not the former CEO he replaced. There are many ways to stop price manipulation....it's not rocket science. : )
Call or Send emails to SPECTRUM
Carey Phelps
Division Vice President, Investor Relations
770-829-6208
investorrelations@spectrumbrands.com
Ask Carey why Kent Hussey's picture is prominently displayed on the front page of Spectrum web site if he is just going to sit back and watch the price go subpenny.
Ask her WHY Kent Hussey is quoted in Atlanta Journal talking about his race car hobby, yet the man has said or done NOTHING to protect shareholder equity.
Tell her that the lower this goes the harder it will be to get the price up and maintain it there as shareholders will be looking to exit quickly and breakeven.
Tell her many don't think Hussey is thinking about shareholders and if he's not up to the task or if he is like the Bank of America CEO (that was just fired) who thinks the world revolves aropund them, then maybe he needs to be replaced.
Smarten up Lightbean and stop acting like a Paid Stooge of Lying Tom!!! This new POS will Reverse split and Tom will begin massive dilution until it is in the sub-pennies again!!! He'll get a few dopes (paid or otherwise) to keep the dream alive that you can be a penny millionaire and LYING TOM is back in gold chains and free booze!!!
How much do you have to lose LB before you realize you've been had? LOL LOL
Well there is a significant amount of LBO debt. However they have significant cash flow and name recognition. The tetra division if sold alone is worth several hundred million.
The answer is easy. Because of lack of effort by CEO and company, traders or MMs are able to slowly walk the price down to either buy cheap shares or finish covering short positions. CEO HUSSEY is behaving like a rookie or deer in the headlights by allowing this to happen.
At .50 the market cap would still only be $26 million!!! This is a company that actually had an offer of cash and debt reduction for one of their divisions just a few months ago!!! Letting it drop to near subpenny is criminal and maybe its time for a REAL CEO?
CEO HUSSEY just sitting on his hands!!
In all my years, I've have not seen such laissez-faire CEO as Spectrum CEO Hussey. I mean we have a company with $2.4 billion in revenues. That's billions people and our CEO just sits and watches the price of our stock manipulated down to almost subpenny. The market cap is now barely $2 million!!!!!! My GAWD!!!! Why isn't he doing something or saying something?????? Just a few months ago the lenders (maybe they control SPC?) nixed a deal to sell Tetra for several hundred million and the payoff of about 1/3 the debt!!!! And now $2 million buys the company?????
The CEOs of America are unbelievable!! They get 7 and 8 figure salries and seem to think they are the company. The Bank of America CEO arse that was fired today, actually took 100K of the US TARP funds and spent it on 3 chairs for his office. Three freakin chairs for 100K!!! That jerk needs to be tarred and feathered and sent to Cuba to live out the rest of his life!!!
So here we have Hussey with his 7 figure salary and bonus. And when is the last time we hear from him. Oh his interview last November in the Atlanta Journal where is saying he's so excited about moving HQ to Atlanta so he could join the race track club!!!
HELLO HUSSEY!!!! KNOCK KNOCK!!!! YOUR FREAKIN JOB IS TO PROTECT THE VALUE OF SHAREHOLDER EQUITY!!! FIRST THING REAL CEOs LEARN!!!!!
This isn't rocket science!! A real CEO that cared about shareholders rather than muscle cars might:
1. Put out shareholder letter explaining how SPC can easily survive on cash flow. And strategy to reduce debt.
2. Put info on how to get off OTC.
3. CEO and Directors take say 20-40K of their HUGE salaries and BUY some cheap shares to show their committment to company and shareholders.
ETC ETC ETC>>>>>>>EARTH TO HUSSEY!!!! WE ARE SINKING!!! WAKE UP!!! IF you want to race cars, we can make that permanent and get a CEO that cares about shareholders!!!!
Exactly!!! Who out there would like to buy Tetra for $2.5 million? That's our market cap. The lenders nixed a deal to sell Tetra for several hundred million last year so yeah we are way way way way way way UNDERVALUED!!!!
But Hussey and Carey need to get busy and help move this pps up!!! Sitting around talking about what they will do won't work!!! Come on Kent, there's a new muscle car for you if you get this up to a respectable price!!! : )
Sounds great pickin!!! I hope management understands that if the pps goes much lower, there might be too much damage to repair.
The latest short report shows the shorts have covered about half of their short shares, so there is not much left. But we go too low and it will just mean that we'll stall on the way back up as everyone bails as quickly as possible to recoup losses or get to breakeven.
Here's how MM walks it down:
There is an MM walking the price down and it is easy to do when there is low volume and the company talks about shareholder letters, etc but so far just talk:
1. Market opens with Bid at .045 and Ask at .053. MM lets a few orders go through then sets Ask at .05 and then sells 200 shares to himself at the Bid of .045.
2. Retail traders see the order go off at .045 and then lower their Ask to .05 as well.
3. At this point the MM then moves his Ask lower to .048 and makes another 200 share to himself at the Bid of .045.
4. Now sellers see it going lower and start lowering their Asks and some even sell at the Bid to Mr. MM who tries to scoop them up before anybody else.
It's been this way since about .12. Hussey just sits back and does nothing and with low volume and no news, the MM just walks it down to either buy cheap shares or more likely to cover shorts.
The lesson? Companies should not sit still and let their stock price be manipulated as easily as this one has.
That being said, we get some good news and it will move up very quickly. Oh and the reason I say the above is happening? Because the pps is going down slowly without the panic selling one normally sees in a "normal" non-manipulated trading. Plus, there is somebody sending 200 share sells at the Bid, everytime there is a big block bought at the Ask. They want it to appear there is more sellers than buyers and that sellers better hurry and sell.
Shorts almost done and as long as muscle-car Hussey plays with toys and ignores the stock price, we will be manipulated down. A 1st grader can look at LII and see the MM stepiing ASK down and then gobbling any sells at the Bid very qickly. Free markets my butt!!! Email HUSSEY, tell him to wake up!!!!!!!!!!
Send emails to Spectrum IR asking how much CEO makes and why he should be paid a dime to sit here and let the price be manipulated. He has time to chat his hobby up with Atlanta reporters but seems to ignore the beating we are taking. Hey sounds like the typical American CEO, huh? LOL There motto is as long as I get my huge salary and bonues, what do I care?
Carey Phelps
Division Vice President, Investor Relations
770-829-6208
investorrelations@spectrumbrands.com
That makes sense as that's probably the guy that's been walking us down to cover.
Still looks like MM scaring sellers to sell a the Bid so they can get cheaper shares. It didn't dip long and shares were bought very quickly. And they can do that ALL day long as long as Hussey talks about his cars instead of his company!!! Maybe some of the institutions will have enough of this and start pressuring Mario or maybe they're the ones trying to get cheap shares? There's a million ways Joe the Plumber can get screwed!! LOL
Not much difference than the last 10 days.
You mean get Mario Hussey out of his muscle car and start talking to reporters about Spectrum instead of race tracks? Yeah, that wouyld be nice!!!!!
It's easy to see that with any news or positive communication from company (hint hint) we would move up very quickly. With low volume MMs can jack around price and load up with cheap shares. Oh well.....at least when we go up they'll be helping jack it higher!! LOL : )
I think these guys are trying to get cheap shares. Otherwise there wouldn't be these little sell orders at the bid. They hope the average seller doesn't have Level II and can't see the actuall share sizes and will then lower their Ask. SCUM!!!!! LOL Gawd, my boots are ready to kick some butt!!! Come on Obama, let's send this Wall Street scum back to the crapholes they came from.
Selling for $3 million market cap....a company with over $2 billion in sales!!!! So much for free markets, huh? LOL
Come on Hussey.....get out of your pinto and let's get this thing moving!!! Take the offense.....grow some balls.....oh I know base your pay on the movement of the stock price. Bet that would get you off your *ss!!!!!
Hmmmmm...isn't that about the time they stopped all short trading on many of the financial stocks and a few other NYSE stocks? Wonder where all the shorts went? This country is being financially manipulated into oblivion. I hope tomorrow is the dawn of aquarius!!! Sorry couldn't resist using the old song (for those over 50) but this country needs to send way more than a few Wall Streeters to jail!!!
But it's almost as criminal as the CEO of Spectrum just sitting back and taking this beating. Grow some balls boys!!! Gawd they had a deal in place to sell the tetra division for several hundred million and another few hundred million of the debt. So their is MORE value here than 5 pennies worth!!!
Over 2 billion in sales and we trade at $2.8 million market cap. Un FREAKIN believable!! Sure we have huge debt but just the cash flow alone is worth more than 5 pennies!! Come on Hussey lets get your head in the game!!!!
Float is about 45 million shares with 50-70% institutional ownership. Yeah, some good news of any kind would pop us multi-bagger IMO. We just need to get the CEO out of his muscle car and start paying atttention to pps. : )
Spectrum still has plenty of liquidity according to last Q. Plus they wrote off some poor selling products which doesn't reduce debt but frees up more cash. They can manage and even according to CEO pay off $70-some million of debt. Now that's not much and they need a better solution but it allows them to stay in business and for God's SAKE SELL FOR A HIGHER PPS THAN 5 FREAKIN PENNIES!!!!!!
Nobody trusts Wall Street and examples of price manipulation and shorting is sooooo prevalent that most of America is thinking of putting cash under their matresses!! LOL Greedy SOBs are going to turn us into a third-world country!!