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Yes its now trading as YRCWD
We may sit here 5.90 - 6.30 until the Union Vote is sealed than it will take off not sure if we get any volume until than.. It seems now fewer buyers interested not that it is no longer a penny stock.. Seems to be trading like a normal stock finally.. Thats a good start to keeping the price above 6.0
that would reduce the Market Cap to 144Million...Not seeing that happening with the revenues alone it really should be closer to 25.00 by years end. Unless they issue more shares to back the 300 million dollar loan they have to put in place per the Teamsters agreement. Than we have a totally different ball game. I sitting this out for now.. Holding a small position per the R/S..
Depends of the Broker..
Just by watching the trades it seems as if the Shorts are holding on... Maybe thinking to cover on a pull back to 4.00 bucks or so after the split in escence that would equal .15 cents pre split.. Just my thoughts ...:)
Understood...So it appears they have already secured additional funding of 300 million conditioned on them being able to show financial stability going forward. I am still in this just not sure what the Shorts are going to do in the AM. I sold out 200K this evening hoping to get at least 400K back in the sell off. Looked at Conway having 56 Million outstanding trading at 32.00. Should we R/S at a .15 share price We should open at 3.75 On Friday should hold 6-7 bucks at least till earnings release. Traded at .25-.26 with current shares outstanding multiply by 25 gives you 6.50 per share. Lets see what happens.
GL
Not much other than not knowing what tomorrow will bring in terms of share price... In the long run it will be well in the 50 dollar range providing they do not dilute the shares any further raising capital. That is the only concern from my view. It could go higher before the split who knows...One thing for certain we shall all find out in a few hours.
GL
Any thoughts on the need to raise additional capital???
I am thinking 3 bucks.....Shorts are stilling hammering this stock...Just my thought for what its worth..
Agreed...I doubt shorts will be covering anything here, but who knows in this market. I am holding 20K shares just in case it moves back up....MM might try to squeeze the shorts into covering...its anyones guess at this point.
GL
Not at all... I am still in this just watching my money,,,Never thought this would R/S...
Yes but the Market will take this down to the lows before it splits why not get out to the way now and buy back later. I have a buy order in at .10 lets see if it fills tomorrow in the AM.
Looks like we got Burned in this deal...Left 20k shares in to see what happens in the AM, looks like its going back to .11..I guess now I see why the shorts held out...Someone knew this was going to happen as I stated yesterday should have sold on Friday late evening.. :(
Its hard to imagine shorting a Multi Billion Dollar company trading as a penny Stock. I watched the close and its funny how the shorts kept selling shares below the ask trying to drop the market. HOW many shares are out there for this to keep going for months like this??? you would think the short shares are all accounted for by now.. Must be Naked/Ghost Shorting be done by the ECN's. Who knows?
From the looks of things if we get any news on the Teamsters 2 man Meeting today we might see a some real buying and holding. Lets hope it hits before the market closes.. Whenever the news hits in late hours it always dives in the morning..
Let the Games Begin....Looks like some news is leaking about the Teamsters Deal...$$$$
Part one of the agreement has been finalized, now the real good stuff comes out tomorrow...Hope it GETs THIS Stock out of the penny stock exchange so it can trade like a normal stock....
GL
If it follows past trading it may sell off like always...No reason for a 5 Billion dollar company to be trading at these prices..Who knows, some very powerful people are forcing a R/S they want it at these prices and it looks as if they just might get it done. Not sure what to think anymore, .30 is nothing .35 anything below 5 bucks a share is dirt cheap for this company and everyone knows it. Even with the shares outstanding it should be above Five. Possitive earnings, worked out the Teamsters and the Bank Deal, Increased Billing, Increased Margins and nothing moves the stock. :(
And than we go back down...:(
Lets hope this gets straight before the end of October. I see us trading in a very tight range until the Vote is confirmed as well information on Qtr3 Numbers. Really hate to see these up one day and down the next.. Looking more like we may re-test .25-26 again until things are confirmed. :(
I hope so, just appears tobe the norm with this, we all agree it should be well north of a buck. lets see what happens by months end.
This stock is so out of the water in terms of valuation to share price, its trading as if its in BankRuptcy at these prices. Everything that could possibly go wrong with company is priced into the share price, BK,Delisting,Continued Losses, Reduction In Market Share, you name it and its calculated in the share price. Nothing will move it until something concrete hits the market I guess. Once the deal is voted on an approved it may move who knows. FRE .35 a delisted stock go figure. Thought about selling this morning at .35 damn wish I had, looks like another month of watching it go back to .26..
SIRI has 6 Billion shares outstanding and barely showing any kind of net profit year to date and is trading at 1.20 per share, with a price target of 1.50. YRC 1.2 Billion shares outstanding, has cut so much overhead over the past two years to keep from filing chapter 11, this is a much leaner company than in years past. Looking ahead at improving pricing as well the economy turning around could give YRC a much better than expected 2011. The pension being dealt with alone saves close to 350 million per year 88 Million per qtr. Lets see what happens over the next couple of qtrs.
GL
Short Term...We should hit 4.00 Bucks by the end of the year. Long term 24 months out 15-20 easy without a R/S. If they R/S 45-50 in 24 months.
It looks as if the game of keeping a stock below a buck so that huge profits can be gained on small price moves may be coming to an end. There is simply no reason for this stock to be down here for this long. Earnings beat estimates, forecast continued possitive earnings. Lets hope it gets resolved by years end.
GLT
From what I have heard from people that work for YRC, this has been mentioned for the past 3 years and he is still running things. Lets hope he gets out of the way, too bad this company should not be in this shape.. Spent to much money buying up companies at High Valuations..
Looking at the amount of Calls being purchased you would think this is about to pop in the next couple of weeks. With over 26K Octobert One Dollar calls being purchased and very few Puts would stand to reason a very strong price move above a buck, no reason why anyone would purchase a call to either buy the equity or sell the option if the price was still going to be trading at these prices. I agree none of this makes since as to why we are treading down instead of up...
I am in the Logistics Business, I use YRC to move freight for my company. .mygrlink.com....My rep was just in this morning and from what I could get out of him the company is in better shape than ever with all the cut backs and consolidations. We should see a really good number for quarter 3 & 4. I hope this helps the share price break a dollar by the end of October. I tried to get more information on the Teamster Vote as well, from what I leanrned it is more than likely the vote will be approved. Nothing to keep this stock at these levels much longer other than WallStreet games being played.
Good Luck to All.. Real people Doing Real Jobs...
Its strarting to look as if we may retest the .21-.24 range over the next couple of weeks while news of the teamster agreement and lenders agreements come out mid October. Hope I am wrong, but it sure seems like no interest in the stock at these levels with no news to move it up.. Looking ahead of the 10/16 One Dollar Calls, you would think we should at least be over a buck by than.
I couldnt agree more...This is another SIRI story, long before it finally traded north of a buck it traded up and down .25-.30 for the better part of 8 months or so than it moved over a buck really fast. Hold strong it will pay huge in 6 months or less.
GL.
Looking at the Options this thing could pop any day, Any Possitive News from the Industry will push it. Tuesday Vote on Pension Reform might be the bump we need.
GL
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YRC has allot of issues that need to be addressed before it moves north, pension, delisting hearing, now Teamster want to remove the CEO, big money will not buy this util every issue on the table is settled. Its going to be a while...May as well grab a seat. The company is deffinately going to be around no reason for any of this, Zollars should have been more agressive in cutting overhead some 3 years ago, he would have been well ahead of the curve...QTR 3 earnings will may or may not be strong enough to boost the share price with all the issues on the table I would venture to guess no pre-annoucement until the union votes and approves the concessions.
I am seeing Yellow Roadway trucks all over the NorthEast...In Northern VA and the Washington DC area they seem to be picking up...This is a gold mine to hold on to..If UPS is buying them I hope its for a premium price North of 20 bucks per share would be great.
I hope the rumor hold truth... It would be nice to see the company bought by someone with big bucks to spend.
Look at the Options on the Stock..This information has been leaking out for the past couple of weeks. Call to Put Ratio is at .22 Looking out to 10/16 One Dollar Call Contracts sitting at 26k, as well the 1.50 and 2.00 Dollar Calls getting some action, it seems as if the street is betting the company will not R/S and will be able to break a buck in the very near term. I am long the stock, only wish I could buy more..
Good Luck to all.
Agreed...The only thing that will be anounced next week will be an extension.. I do not see a R/S for the simple fact they have swapped Debt for equity.. Would not make since to wipe out the bond holders after getting them agree to equity instead of cash.. Look for this to start to move North of a dollar within the next 30 days. Stay long and profit..
This is the process for appealing a delisting notice.. In short they could have upwards of 7 months in all to get back into compliance..
Appeal to Nasdaq Panel. The company’s appeal may be made through a written submission to, or at a hearing before, a Nasdaq listing qualifications panel of two or three persons selected by Nasdaq. The panelists are independent representatives of the business community and cannot be employees of the National Association of Securities Dealers, Inc., the organization which operates Nasdaq. If a hearing is requested, it is generally held within four to six weeks. The company must pay a fee of $2,300 for a hearing and $1,400 for a written appeal.
Plan of Compliance. In the appeal, company representatives present a "plan of compliance" ¾ the company’s plan to achieve and sustain compliance with the Nasdaq maintenance standards. Without a credible plan, delisting is usually swift and certain. The mere assertion that the company believes its stock will trade above the minimum price is insufficient.
Decision. The Nasdaq panel renders its decision, typically within two to four weeks after the written submission or hearing. If the decision is to delist, the delisting becomes effective at the close of trading on the day the company is informed of the decision.
Further Appeals. The company may appeal the Nasdaq panel’s delisting decision to the Nasdaq Listing and Hearing Review Council within 15days, and the Review Council may on its own motion elect to review any decision within 45 days. The NASD Board of Governors may, in its discretion, review any decision by the Review Council. Aggrieved issuers may also appeal any Nasdaq decision to the SEC or federal court. Appeals beyond the Nasdaq panel do not stay delisting and are rarely pursued.
YRC has already applied for an extension per the 10Q filing..Do not expect to see any change until the NAS grants or denies the request. No delisting to much volume to remove them from the exchange.
From what I know of the R/S was to have taken place today 8/25/10 if it was to happen.. Seems as if news of an extension will hit on or before 8/30/10 if not sooner..
YRC has covered tons of debt by using stock swaps in exchange for payment, it seems unlikely they would than reduce the number of shares given to the creditors. Just my opinion..
Good luck to all...I am long the stock...