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.
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.
Not sure how widespread this recent news development is either. My Ameritrade news ticker hasn't even picked it up yet!
Plus the fact that nothing is really set in stone yet.
Not nearly as much pre-market volume as I expected, given the recent news.
We'll easily break the $1.00 mark today. Already at a solid .94 in pre-market, and it's early still.
That article said everything I wanted to hear! This is getting better quickly!
This may end up being a longer hold than I anticipated. After selling some shares to lock in profits of course.
Aaah, thanks! No wonder I couldn't find the article again. Been reading as much as I can when there seems to be something new on the ongoing saga!
I've done some more looking, and I agree with you. I saw a recent article this morning that said the heavy buying at the end of the day amounts to just less than 1% so as not to trigger the poison pill. I would imagine the author had this wrong.
Not a lot of online time for me tonight here at work, but so far, I can't find the article that I read.
Either way though, I believe after more reading that you're correct.
Just added 2K more shares myself!
Bounced nicely off of .79 support.
I'd like to open a discussion to get your thoughts on this.
It seems at slightly less than 1% allowed to be purchased per day, Dov has about 7 to 8 market days to reach over 50%. Unless of course he can employ the use of allies to help purchase shares.
This might give the company time to issue more stocks, diluting Dov's share percentage, and giving the board more time to take more actions against Dov's possible take over.
Also, my feeling is that if Dov can pull it off, he'll take the company private!
Thoughts?
Here we go again. The saga continues!
http://nypost.com/2014/06/29/american-apparel-could-take-back-ousted-ceo-amid-debt-woes/
With all this talk, I'm a little unclear on one point.
Are there any stipulations put on the stock if we, (as small shareholders), sell above $2.75 per share?
Thanks nsomniyak! Your expertise and time spent are greatly appreciated!
Can't wait to see what happens next here!
This just gets more interesting every day!
I hope you're right! I'm feeling a little better! :)
Roth at 5T has 13% also, and is still on the fence about Dov. That combined as a group would make over 50% already if he worked a deal with 5T.
A lot of people would bail if Dov ended up majority stockholder and re-appointed himself as CEO and cleaned house on the board.
Not trying to be negative, but it makes me more than a little nervous.
With stories like this surfacing, I don't see how Charney stands a chance to win the fight against American Apparel.
I'm thinking all that after hours volume yesterday has something to do with Charney's shares. This is usually how market makers handle extremely large orders.
http://finance.yahoo.com/news/one-anecdote-shows-ousted-ceo-145816139.html
Well, here we go! Let's see how this bad news effects the situation and stock price!
American Apparel lender declares $10M default after CEO’s exit
http://nypost.com/2014/06/26/american-apparel-faces-cash-crunch-as-lender-declares-10m-default/
We're approaching the next resistance level at around .79. Looks like we could blow through that!
Then it's a bumpy ride to get past .85. Next stop is the 200 Day Moving Average (MDA) at about .93.
Thanks! Good luck. Unless Charney can create some real trouble, (which I highly doubt), I'll be holding for a while now.
Very pleasant! I really didn't expect it to make this big of a return today. I was planning to trim my position a bit, but have now changed my mind!
Next breakthrough will be the 100 MDA sitting at about .67.
We seem to have settled in at the .62 range. Very nice comeback from yesterday's sell off.
Good article! I bought PIR (Pier 1 Imports) during that time. I bought at .46 just before they pulled out the last minute save. A couple weeks later, it was over 2.00.
A couple more examples I remember is Ford and Sirius XM.
PPS and volume on the rise! News coming?
I'm in fairly big myself, and I'm right there with you on the concerns over the unstable and irrational Charney. I'm watching as much news as possible so I don't get caught by bad news that brings the stock crashing down around me.
That's an excellent question about a clause upon termination that prevents him from selling immediately. So many possible scenarios at this point.
The closer I look, the more I like.
I agree that market makers are holding things down. Very easy to do on a penny stock.
The shareholders have been waiting for this news, but as I said, some of the potential big investors are most likely waiting for the "cure period" to be sure.
I have a feeling APP will continue to trade in this .70's range until the 30 day period is up and he's legally and officially fired.
Unless some really positive news comes out before then.
I think there are still many large investors sitting on the fence until it's definitely safe to jump in.
Just came across this article only a couple of hours old on CNNMoney.
Go to the link for the two videos. The first video is part 1 of an interview and the second video is part 2. Very interesting info!
I posted parts of the article here that I thought was very encouraging info.
http://money.cnn.com/2014/06/20/news/companies/american-apparel-dov-charney/
Mayer thinks the firing will ultimately be a plus for the struggling retailer.
"There are people who will tell you that Dov's reputation was a real drag on the company. There were people and firms unwilling to do business because Dov ran the company," said Mayer. "Since we announced the decision, we've been contacted by mainstream, top of the line, institutions that have not been interested in supporting us."
Time may be on the board's side, he said. The company is preparing announcements in the coming weeks that will demonstrate that there is ''life after Dov at American Apparel,'' said Mayer.
"His notion of what's good for the company differs from ours...he thinks keeping him is good for the company, we don't," said Allan.
Here's a more recent article that came out late Friday evening. The only thing that worries me is the mention of bankruptcy. Even though Luttrell always says no way, it's still out there.
Mention that a buyout could come with a pre-packaged bankruptcy could suck for the investor!
http://www.latimes.com/business/la-fi-american-apparel-20140621-story.html
My impression from the articles I've read, where the interim CEO has directly commented on the future of American Apparel, is that a merger could happen, but a buyout is less likely.
A merger could give them relief to the financial stress they've been under.
I definitely have no intention of selling right now, that's for sure! This could go many different directions at this point.
Just go to Yahoo, http://finance.yahoo.com/q?s=app , and read some of the different articles listed under News. There are many different takes on how the ousting of Charney could affect American Apparel's future. Some good, and some bad!
I saw a good article that talked about that. It listed a few possible buyers, and there was a mention of $1.50 per share.
Here's the link to the article. http://www.bloomberg.com/news/2014-06-19/american-apparel-ripens-as-target-after-ousting-real-m-a.html?cmpid=yhoo
Especially after pre-market ran up over .80.
I wonder if the market makers were holing it down for some large buyers.
Thanks Jugs! I actually did look under "Transactions" and didn't see it. Now as I look more carefully, sure enough! I've purchased LNREF twice, and there is one 15.00 fee showing up 3 days after the first purchase. I will assume there will be a second one any day now.
Could be worse I guess!
Where did you find that fee in your Ameritrade account? I use Ameritrade, and I can't find that mentioned. Nor do I see any unusual charges.
If we can break and close above .80, then it should be a pretty easy ride through the .80's. Then the same thing between .90 and 1.00.
I'm thinking though that in the next couple of months, we should get a steady stream of some good news that will keep this moving up!
In my opinion, after reading all I can the last couple of months on American Apparel, this move to oust Charney was the key to moving forward and getting this stock price on the move upward again.
Charney is still a great creative talent in the business, but many institutional buyers stay away from APP because he's CEO and has some very questionable tactics.
I believe you'll see some big buying coming in on a regular basis now!
I'm still long here!
I haven't heard any talk like that. I can't imagine why they would want to do a R/S at this point.
I'm thinking maybe another institutional buyer coming in. Or maybe more insider buying.
We should either see a PR or an SEC filing pretty soon that will shed some light on the recent increase.
Nice continuation this morning on Friday's move back into the .40's. I'll definitely be adding here when I make more funds available.