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Well, hmmm, there we go, fits with the evolution of what we were seeing, so the question is why just BKFG and not any of the others. It is the one that has the most significant assets, I'm sure there is a rationale here, will continue watching Bronson closely to see what he is up to.
On sidenote, QBAK has really started turning the corner with last quarterly.
At least the quarterly is much cleaner after the messiness of the merger. That said, despite the positive sounding quarterly, fact is we are 250,000,000 shares now and the results taking away the one time tax benefit are ~$6,000,000 less than last year at this time.
Clearly, still some merger expenses they are working through, and operating expenses are actually reasonable considering the combination of companies, but they really need to work on revenues here. Seems like pretty precipitous drop certainly in Kitara's side of things at least from last year. Next quarter should tell us trajectory, but as is, didn't get alot in return for all those shares so far. We'll see.
Sweet, looks good! Step by step getting there.
Great sector to be in, but just haven't updated shareholders much beyond last filing. We'll see, maybe they are just busy still with solidifying merger, but until that happens or great results I think it will be hard for this thing to move.
Have no idea what just happened, but ask just disappeared at least for the moment, after consistent bid pressure for a few days. One moment down at 1.80, now 1.95 with bids immediately following the ask up. Little strange on virtually no volume. Seems similar to what happened a couple weeks ago down in the 1.30 range.
There's the support, I wonder why? So many different possibilities as to why all of them good IMO.
Keeping an eye out also to see if there are anymore Newman buys, feels like more than just retail buying at these levels.
I think it's basing in this 1.20-1.40 range. VFIN clearly boxing things in and guiding the action. Good historical support around this level when you look at longer term chart.
Kind of interesting the number of MM's now on this stock, huge increase in last couple months. Definetly a sign that this is a much more liquid play than it was previously.
New MM on bid side, Gabelli getting in on the action now.
I think you actually may be right on crunch time. Feels like it's quiet here, but also feels from little breadcrumbs things are happening.
For me at least good dip buying opportunity, continued large buys by management.
Remember wishing on last dip a few weeks ago that I had bought more on that upswing. This time I would imagine will be thinner on the way back up after clearing out these sellers. Question is when stronger bid support comes back up here.
Occasionally, I use barchart to see momentum and get a sense of things, especially on RS stocks because they calibrate the pre-RS activity to reflect number of shares traded and price.
http://www.barchart.com/charts/stocks/PIAC&style=technical
http://www.barchart.com/opinions/stocks/PIAC
So this is the reality of what the stock is done, and all I can think is dang, look at those .50-.60 shares that traded. Wish I could go back in time :)
Continued buying by ex-CEO even after merger says something. That should give this some support. Explains the base it's forming here.
Yup, we'll see, someone trying to get a little selling? Nice chunk there, good dip buying opportunity here perhaps? Good thing to know as part of that plan, the more volume in the stock (buying or selling) the larger amount that Walker and Ellenthal can buy.
Yeah, I'm assuming that's what they said. Topic was a bit surprising, but he does tend to talk on lots of different things.
Bio-terror and drones, not what I think people were expecting, lol..
Edit: Meant Einhorn, not Ackman
Look at what Ackman did to all fracking stocks when he spoke. If only when Walker speaks that attention can come PPRO's way :)
Walker speaks in 20 minutes.
Here's the live blog. Don't expect much to come of it besides increased awareness among hedgies of company. Either way, good stuff. Walker 5th speaker in one of biggest investment conferences of the year.
http://www.cnbc.com/id/102645305
Haha exactly :)
More Form 4's (insider buying) today. If this breaks through resistance and gets over that 2.20-2.30 range should be a nice base of support there for next leg up. Watching that level. Don't see how it won't happen, as the sellers are minimal here and management keeps buying most days. Ask side continues to get thinner each day. Forces beyond us driving this up at the moment. And despite it's strong move so far, I think they are looking for higher in the shorter term.
CNBC will be covering live, my assumption is others will too.
http://www.cnbc.com/id/102624193
Sohn Investment Conference next week, so we'll see if that brings any interest Walker's way. He is one of 12 main speakers. Interesting that virtually all of the rest of the speakers are from investment groups, except Walker.
http://blogs.wsj.com/moneybeat/2015/03/17/heres-who-will-move-the-market-at-the-sohn-conference-this-year-2/
NY Times, WSJ and others have live blogged this conference in the past. Will keep an eye on it and see if they do that again:
http://dealbook.nytimes.com/2014/05/05/live-blog-investors-gather-for-sohn-conference/
Virtually no selling and continued insider buying, easy math to do. Will work through the churn and then next leg up.
Feels like ATDF retail selling here into bid, dumb move IMO. Will be curious if we see some buying by Newman still too. Either way, feels like it should be basing right around here, maybe a tad lower. Looking forward to quarterly in a few weeks I believe.
Agree with that on R/S's, have noticed people buying into them more than they used to. Remains to be seen what they will do with the shell. Clearly, they are trying to actively find a partner. Whether they have identified thise potential partners not sure, either way shell to keep on close watch now.
Yeah, likewise usually an RS like that leads to sell-off, so just surprised at the upside move. There does seem to be support underneath it, maybe other stuff happening behind the scenes, but didn't see anything to indicate merger here yet.
All the buying and volume today interesting especially in light of the RS.
PPRO continuing it's move up and insider buying. Up 67% now in the last week.
By my calculations they are 1/5th their way through their plan to buy shares up to $4. Alot of ammo left if there are sellers on the way up. I believe from what I am seeing this will get to a $4 base and then they will uplist.
PPRO - Insider buying won't let up until $4, I think that's where will be in a relatively short while and then the uplist. So far the play is turning out very nicely.
Hey Nebula great to see you here :) Continuing the move up, a little churn here, but soon enough next leg IMO.
By my calculations they are 1/5th the way through the shares they plan to acquire. Still alot of buying left and ammo left up to $4 as they said. I think as we have seen they are going to push this up quickly it in the shorter-term to get to uplist range. I think they see $4 (NASDAQ) as the minimum, the base they want to start with. I think with all the factors at play we could see this go parabolic, it has the right ingredients atm.
Obviously this very well might go much higher with uplist, momentum it's building, attention it's getting and results it may show. Either way, as a buy and hold guy, it's nice to know anytime a seller comes along, they are going to take them out.
Deliquent on it's filings now...hmmm..
Unusual, what is going on? Never happened before and he hasn't done that with any of his other companies. RDGA for instance just filed one. And he has continued to use BKF cash to buy up QBAK. Something to keep a close eye on, are they going dark for a reason? Nothing to indicate one way or another at the moment.
Yeah, don't see anything in their history that points specifically in that direction, no hints in anything I've seen, but if there's one thing I know about hedgies is you never know. And your point of making it up to LICT owners is interesting.
Either way, with background of team here, 3 million OS and comparing it to other similar shells one of best value buys out there IMO. Should be at $1+ on potential alone from my side of things.
Highly recommend that people set their asks as high as possible during this time or not put shares up for sale at all. If there are in fact shorts who need to cover, the higher the asks are the higher the price will go. They will be forced to buy higher and higher.
Nice churning here, setting up a nice base.
Day 1 shares sold short perhaps as DB and others were speculating? If so, even forgetting the great story here, expect this to continue running higher on the need to cover. Should be fun to watch if that's the case. Could go much higher.
Could see that, especially in case where interested companies are not connected already, but in this case it has been under the umbrella of GAMCO and Gabelli for a long while. Why continue to file, bring in Jonathan Evans, or try to utilize it if they don't plan to use it? Gabelli not one to spend money on something that will never turn out. That all said, can see what you mean in general on shells after Ch.11.
A quick press release on that filing in 2002:
http://www.thefreelibrary.com/Morgan+Group+Holding+Co.+Announces+That+Morgan+Group+Plans+to+File...-a092455295