I agree. You've been here a while. Good luck. I'm a recent buyer at $6.7 over the past couple of weeks.
i still find it impressive that YRCW hasn't pulled down below the 38.2% retracement level of its move off the early August lows. last week the range was the lowest it has ever been for the stock as the stock bases for 4 weeks now. after these basing patterns the move can be extremely violent. given that the stock is down about 99.99999% from highs, trades at 0.01 times sales, throw in some insider buying, 1st operating profit in 4+ years, and a CEO that seems confident of a turnaround, i'd say the move out of this base is ultimately significantly higher.
ignore the permabears saying that there are more conversions coming. that's nonsense. you can read about it in the sec filings. there is a convertible bond at $18 per share that adds about 5 million shares to the shares outstanding. should the stock run to $18 or higher and you add those 5 million shares, you still only get a valuation of $210 million or so, which would be a price to sales of 0.03-0.04. companies in this industry trade at 0.30 to 0.60 times sales on average. i believe after welch and company turn the company around to consistent net profits, the valuation of the company will initially skyrocket higher and then gradually increase over time. i believe it can get back to a $1.5 Billion valuation or higher, which would translate into a share price around $100. with a streamlined operation and consistent profits after a turnaround, there's no reason to see it go higher than people imagine.
keep in mind that many companies undergoing a turnaround have awful financials and are operating at big losses so the best measure of the valuation of a company is price to sales. take a look at a few companies with huge debt loads over the past 4 years that have had remarkable turnarounds:
SIRI
LVS
BONT
i don't think YRCW is any different. the pieces are in place for a move much higher.
just sitting and waiting.