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ISNS - This is a great example of how unpredictable these low floaters can be. It looked comatose for a long time and then spiked up out of nowhere.
ISNS - I picked up a small position this morning. I think with the newly announced fat dividend and the low float, it is worth a shot. In the last couple years cash flow from operations would have pretty much covered this new dividend.
ISNS - It will be interesting to see how it does tomorrow. Like you said, their last quarter was lousy.
What it does have going for it is that new dividend that yields over 10 percent on the closing price. The other thing is the 2.35M share float.
It would be great to have a working crystal ball in the office.
FAMI $0.35 - $0.44 Creating shareholder value?!?!
Share price closed yesterday at $0.79. Company had 28 million shares outstanding. After yesterday's close they announced an offering of 140 million shares at $0.30. That's what I call creating shareholder value!
It definitely pays to have brokerage accounts at different brokers. It seems they all have their unique quirky rules.
MTSL $2.92 - That was a quick fall from grace. It's back to within a nickel of where it was before the transaction was announced. Activist investor David Lazar unloaded a ton of shares. It makes you wonder who knew what and when.
SMIT - These guys sold one of their businesses for $10.5M in 2019:
https://www.globenewswire.com/news-release/2019/11/27/1953202/0/en/Schmitt-Industries-Completes-Sale-of-SBS-Business-Line-for-10-5-Million.html
Then they purchased a bankrupt creamery in 2020:
https://www.prnewswire.com/news-releases/schmitt-purchases-ample-hills-creamery-inc-assets-301091603.html
And the results are not pretty. To say they are getting creamed is an understatement:
https://www.sec.gov/ix?doc=/Archives/edgar/data/922612/000119380521000041/e620203_10q-sii.htm
https://www.sec.gov/Archives/edgar/data/922612/000092189521001067/nt10q12252001_04152021.htm
ASTC - Due to demand, they more than tripled the size of the offering! Just when you think you've seen it all....
Astrotech Increases Previously Announced Bought Deal Offering of Common Stock to $32.5 Million
Business Wire - Apr 07 22:32 EDT
AUSTIN, Texas--(BUSINESS WIRE)-- Astrotech Corporation (NASDAQ: ASTC), today announced that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 21,639,851 shares of common stock of the Company at a price to the public of $1.50 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about April 12, 2021, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The Company also has granted to the underwriter a 30-day option to purchase up to an additional 3,245,977 shares of common stock at the public offering price, less underwriting discounts and commission.
The gross proceeds of the offering are expected to be approximately $32.5 million, before deducting underwriting discounts and commissions and offering expenses payable by Astrotech and assuming no exercise of the option to purchase additional shares. Astrotech intends to use the net proceeds of the offering for general corporate purposes, working capital, and capital expenditures.
The securities described above are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-253835) filed with the Securities and Exchange Commission (SEC) and declared effective on March 15, 2021 and the accompanying prospectus contained therein. The offering of the securities is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to this offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when filed, may be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail at placements@hcwco.com or by calling (212) 856-5711.
This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation, or sale is unlawful. Any offer, if at all, will be made only by means of the prospectus forming a part of the effective registration statement.
About Astrotech Corporation
?Astrotech (NASDAQ: ASTC) is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology in order to maximize shareholder value. Astrotech is headquartered in Austin, Texas. For information, please visit www.astrotechcorp.com.
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, including regarding the anticipated closing of the offering. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of net proceeds from the public offering, the Company’s ability to obtain additional financing, the severity and duration of the COVID-19 pandemic and its impact on the U.S. and worldwide economy, the timing, scope and effect of further U.S. and international governmental, regulatory, fiscal, monetary and public health responses to the COVID-19 pandemic, whether we can successfully complete the development of our new products and proprietary technologies, whether we can obtain the FDA and other regulatory approvals required to market our products under development in the United States or abroad, and whether the market will accept our products and services, market and other conditions, as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including our annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to update these forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210407006042/en/
Eric Stober, Chief Financial Officer, Astrotech Corporation, (512) 485-9530
Source: Astrotech Corporation
Copyright Business Wire 2021
ACY - This is a good illustration of why it is so dangerous to short low float stocks no matter how horrible the news might be. I'm sure there's some guy short 10k shares wondering WTF just happened.
VTSI - Traded as high as $14.85 in the pre-market. Strange things happen in the wee hours of the morning.....
Thanks, Michael. It's very rare when we get out at the top. I guess we should just be thankful when we book a profit. It sure beats the heck out of taking a loss!
SPRT - They just shook me out in the lower 7s. It's a profit, so can't complain.
SPRT - I guess MARA with a $4.25B market cap and RIOT with a $4.1B market cap would have been better examples than NCTY in regard to valuation.
SPRT - Sounds like you booked a healthy profit, and that's what counts at the end of the day. You really can never tell where these news-driven stocks will go in the short term.
I'm definitely not in it on a valuation basis. I think bitcoin is the biggest bunch of nonsense ever, but obviously there are many true believers out there. I'm in on the bitcoin hype and all the new day traders out there that I think will be chasing it.
SPRT - I was Johnny-come-lately on this one this morning buying at $5.91. I sold half so far, but I agree that this one could really fly with the Bitcoin hype attached to it especially when I look at some of these other companies that have just gone crazy like NCTY with a 52-week range of $2.04 - $89.20.
AMRK - A-Mark Precious Metals initiated with a Buy at DA Davidson
TheFlyontheWall.com - Mar 19 07:43 EDT
DA Davidson analyst Tom Forte initiated coverage of A-Mark Precious Metals with a Buy rating and $55 price target. The analyst is positive on the company's "durable economic moat" given its long history of product launches and strategic M&A, stating that it is "well positioned" to exploit the secular shifts precious metals sales moving to e-commerce from physical coin shops and the increasing acceptance of precious metals and cryptocurrency as an asset class. Forte adds that A-Mark is also well positioned over "at least" the next 12 months to benefit from gold's perception as an inflation hedge.
I'm short a little ARKK, and that hasn't been a pleasure-filled experience so far.
MGI - Form 13D/A issued this morning.
You would think this would put some pressure on the stock, but you never know:
On March 10, 2021, the Reporting Person entered into an agreement (the “Plan”) with Jefferies LLC (“Jefferies”), pursuant to which Jefferies is authorized to sell up to 8,195,123 shares of Common Stock (the “Maximum Amount”) on behalf of the Reporting Person in a manner intended to qualify for the affirmative defense provided by Rule 10b5-1(c). Generally, Jefferies is authorized to commence sales in accordance with the Plan on March 11, 2021 and the Plan shall expire upon the earliest of September 30, 2021, the time at which the Maximum Amount shall have been sold, or the occurrence of certain other customary events affecting the Issuer. A copy of the Plan is filed as Exhibit 99.1 to this Amendment and is incorporated herein by reference.
APT $10.40 - $1.75, getting brutalized today after putting this in their earnings PR this morning:
So far in 2021, we are witnessing a softening in the demand for NIOSH-approved N-95 particulate respirator face masks manufactured by smaller companies like Alpha Pro Tech, creating some uncertainty in the market. Factors contributing to this include (i) increased availability of N-95 face masks resulting from manufacturers ramping up production capacity and actual production, especially in the early months of the pandemic, (ii) increased competition, driven by more manufacturers entering the N-95 face mask market since the pandemic began in 2020, as well as Emergency Use Authorization in the U.S. that has allowed foreign manufactured, non-NIOSH approved KN-95 face masks, among others, to gain prevalence, (iii) decreased demand from some distributors and their ultimate consumers in light of high levels of stockpiled inventory, resulting from a rush to obtain face masks in the early months of the pandemic, and (iv) the improvement in outlook with respect to the duration, scope and severity of the pandemic and the rollout and availability of vaccines. As a result of these factors, we expect that face mask sales, primarily sales of our N-95 particulate respirator face mask, in the first quarter of 2021 will be materially lower than in the fourth quarter of 2020, although we should still show revenue growth as compared to the first quarter of 2020. Additionally, we expect that, due to certain of these factors, specifically the improvement in outlook with respect to the pandemic and the growing number of individuals being vaccinated to protect against COVID-19, face mask sales may continue to decline in future periods.
Maybe the euphoria has come and gone, but it sure has strengthened the balance sheets of a lot of these teetering companies with all the stock they have been able to sell during this period.
Maybe some of them will be wise and actually acquire some profitable companies.
About five blank-check companies went public per day this year:
https://www.bloomberg.com/news/articles/2021-03-04/spac-froth-turns-on-itself-with-stocks-plunging-20-in-two-weeks
Speaking of SPACs, the new 52-week-lows lists are just littered with them and their warrants.
LMB - Limbach Holding initiated with a Buy at Lake Street
TheFlyontheWall.com - Mar 05 08:49 EDT
Lake Street analyst Rob Brown initiated coverage of Limbach Holding with a Buy rating and $19 price target. He believes investors under-appreciate Limbach's recent improvement to its capital structure and the potential from a mix shift toward higher-margin, higher-growth services as the final stages of the company's turnaround effort should result in an earnings inflection, Brown said.
AMRK - The other day I bought some AMRK for my son and then my daughter in their A-trade accounts. Just a few minutes later I tried to buy some in my IRA also with A-trade, and I got the message the order had to be called in! They must have just put it on their double-secret-probation list!
COHN - I bought 400 shares in the pre-market at $22.95 which I thought was a huge leap of faith since it was more than $5 above the close yesterday. It didn't do much for a little while and stayed in the 20s for a long time. I sold 325 shares in the higher 20s, and sold the remaining 75 at $41 and change. I wish I would have bought a bunch more of this low floater. Float is only 411k shares!
FRD - I agree. I bought a bunch last Tuesday around $8.00. I was surprised to be able to buy at that level after that earnings report, and what looks to be even better numbers coming. I'm steeling myself for higher prices!
I may need it! It could be a good trader between now and when an announcement is made.
IBAL - It's not uncommon to buy a large block of shares at a discount. The estate owned over half of the outstanding shares. If they tried to sell them on the open market, they would have collapsed the price.
Why would Avis offer more per share to the minority shareholders than they paid to the estate? Well, for one thing to avoid litigation.
I calculate book value at about $1.63 per share. It is probably understated with the company owning a 62,000 square foot manufacturing facility sitting on eight acres in Jacksonville, FL.
This whole thing is about as incestuous as it gets. The estate is the controlling shareholder of Avis!
I wouldn't want to make any huge bets either way on this one.
Thanks, KIK. I am one of the newest IBAL shareholders! I bought a few this morning speculating that they might throw a bone to the minority holders. Hopefully it doesn't turn out to be a takeunder.
IBAL - From last night's 13D/A:
"On February 18, 2021, the Board of Directors of Avis authorized it to pursue a potential acquisition of the Issuer, including through a merger transaction. As a result, on or about February 24, 2021, Avis intends to propose such a transaction to the Issuer for its consideration."
Any idea what you think they may offer the minority holders?
https://www.sec.gov/Archives/edgar/data/781902/000110465921027486/tm217607d1_sc13da.htm
I kinda lucked out on the timing. It would have been a virtual bloodbath today.
NTN $4.24 - $0.54, what a crappy performance so far for this one. I'm still holding out hope it pops at some point. I'm glad I didn't use embezzled money to fund this purchase.
CAPC - I guess the potential is unlimited when you have the magic mirror!
Michael, I use the commission option. One plus is that you can trade earlier at 4am eastern whereas with the commission free, you have to wait until 7am eastern.
I spoke with one of their reps one day about it. I think she told me they sell the order flow with the commission free, but not with the full commission.
Here's a link with the comparison:
https://www1.interactivebrokers.com/en/index.php?f=45500
One detracting factor at IB is their price-capping. Sometimes when you enter an order that is a bit off the current market, they will price-cap it, and that is a real pain in the hindquarters especially when you're trying to buy/sell after a company just issued news.
Nelson, this is in reply to your message that disappeared. My reply disappeared, also! There is some strange stuff going on with InvestorsHub this morning.
I probably do about the same amount of trading between etrade and IB. I don't use Ameritrade all that much, but I did use it for the Junk Portfolio. I despise TOS, so I use the regular A-trade web version.
I like etrade for the free commissions and the fact that I was able to get my former setup re-established after Scottrade was devoured by A-trade. I have been doing a lot more trading since you're not getting hit with the commissions any longer.
IB really has some nice features. The early trading window being one. Another is the ability to short otc/pink stuff. I also like being able to use iceberg orders and hidden orders.
I probably do about the same amount of trading between etrade and IB. I don't use Ameritrade all that much, but I did use it for the Junk Portfolio. I despise TOS, so I use the regular A-trade web version.
I like etrade for the free commissions and the fact that I was able to get my former setup re-established after Scottrade was devoured by A-trade. I have been doing a lot more trading since you're not getting hit with the commissions any longer.
IB really has some nice features. The early trading window being one. Another is the ability to short otc/pink stuff. I also like being able to use iceberg orders and hidden orders.
Nelson, I can't agree more with that. IB allows you to trade at 4am eastern. It makes sense that the early morning moves can be really exaggerated since there just aren't very many participants to soak up the stock in either direction at that time.
All three experiments were done with real money. If you think your thesis is solid, why wouldn't you put your money behind it?
Researcher and Nelson, I was pleasantly surprised by the return.
One of the things that really struck me was the large percentage of orders that were executed in extended hours trading. I was trading in an Ameritrade account, and their pre-market trading window starts later than others like IB.
I conducted a couple similar experiments in the past that lasted at least a few months. The first was buying a basket of fairly high-yielding stocks and trading in and out of them while collecting the dividends. This one kinda fell flat and didn't provide much of a return.
The second was buying a basket of stocks that were both low-priced and low-float and trading in and out of them. This one was very successful. Unfortunately every single one of the stocks became what I consider grossly overvalued and never returned to a decent valuation, so the experiment ended.