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Question is, how long does this pain continue?
I'm starting to wonder if investors will even return after summer.
I'm sure they are not blind to what's been happening and with how they acted so far, I'm somewhat confident that they are seriously discussing either a buyback or dividend and that its only a matter of time before we hear something.
He nailed it on the head though, support is what we've been missing currently. But I'll have what he's having with that prediction, lol.
Take your pick, either the sellers are crazy for selling/shorting or the institutions are for buying.
I give credit where credit is due. Until I see something fundamentally wrong I will give the benefit of the doubt to the company.
IMO, the shorts are just doing what they have normally done and whats proven profitable without taking a hint that the tide will soon turn against them.
What they did today was bring the stock down on low volume and scared alot of the people who bought right before and after earnings, its panic selling is what it is, nothing more.
Unfortunately the only thing I see that can change our direction is a big announcement from management. And I hope for an announcement big enough to burn every short, cause they had plenty of times to exit and I think its about time someone closes the door.
After the blowout qtr we just had, I am at a loss for words.
I would be expecting institutions to eat up any shares they can get below $10.
I have officialy entered into wtf mode.
I hate to say it, but I think only a dividend or big aquisition announcement is going give us respect in the current market. Even then we might still be ignored, lol.
Given a choice between FMCN or CCME at the current sp who wouldn't choose CCME?
I'm hoping we get a really nice jump in institutional shares at least enough to bring us to 25%, that would really make my day.
Some decent sized blocks being sold at the moment.
lol, what else is new. On the plus side my position in CCME is now complete:)
lol, I like your optimism.
Earnings are huge, growth is huge, margins are huge, the only thing we are missing is a dividend and if we got that, that my friend would be really huge.
If this gets to $50 anytime in the first half of next year drinks are on me.
Maybe, but with a late filing they will also give their best estimate of income like last time.
The reason I don't want that to happen is because it will give shorts a better chance to cover, then if they would just announce the earnings in a press release that would hit all the wires.
What else is new, lol
On the plus side, at least we didn't start red. Still, well over a million short shares and earnings on the way. Their hoping for a big red day I'm sure, but if by chance they don't get it....
Funny, this time we seem to be going up on light volume instead of down.
Maybe sellers dried up and now its nervous shorts covering. Their probably cautious about shorting more now as well with no sellers in sight.
I think you might be one of the few long term investors that wouldn't want a dividend paying stock. Considering your talking about a 10 year time frame for CCME why wouldn't you want a dividend? I wouldn't hold any stock for more than a couple of years unless they were paying a dividend or if they continued to show improved growth YOY. In a market crash scenario if a company is paying a steady dividend they will hold up better than one that is not and I personally wouldn't be as bothered with a lower SP in such a case.
For now since the company is still in growth mode I don't really expect a dividend but I still want one, same as almost everyone who invests, and I expect that at some point in the future that they will start paying one, because its in their best interests as well.
One thing is for sure, I definitely won't stick with CCME for 10 years through ups and downs once I reach my sell target. Give me a dividend though, and it might be worth the long term risk.
I'm somewhat surprised at the large increase, I figured they would start covering with earnings right around the corner. But the more that join us for earnings the merrier.
Its not your screen, its was 24 minutes between trades.
By looking over the press release it looks like they could have even released the news 2 or 3 weeks ago but decided to wait for a little market strength for this news.
They really wanna push the price up, can't wait to see what happens for earnings.
Yeah they could have just as easily released the news on the weekend or even Friday, but they know how the game works.
Big difference between CCME management and that of other China small cap companies.
Thats the thing I don't like about shorts in general. No respect for a stocks fundamentals and an assumption that the stock will always fall back down.
Unless there is something wrong with a stocks fundamentals, upcoming dillution, or a jump in price for no reason, I wouldn't short a stock (I don't short anyways). Even if the sentiment changes on a whole sector I would still carefully pick which stock I short. One thing I definitely wouldn't do though, is short a stock that was already beaten down for no reason.
After all the DD that was done on CCME who wouldn't have taken a long position under $10?
Nobody's attacking you, most like myself are just wondering why anyone would short at this price range when if the markets hold up CCME might just turn the corner.
I think its unwise to short a stock unless there are problems with the fundamentals, dillution, or if the stock just ran up way too fast on no news. Also, I don't like shorts when I'm long and think its very risky, even stupid to short a stock like CCME which could pop at a moments notice.
I have no idea myself, but I would be really interested in seeing what exactly is in the contractual agreements and whether its permanent or if it has to be renewed at some point.
This might even be one of the reasons for lack of institutional investment thus far, who knows. Another reason perhaps of why they did the stock offering to Starr even though they had no immediate need for the cash. I'm sure Starr knows all the details of the agreements.
I think management is pretty much guaranteed their incentive shares for 2010 at this point, and if that is the case then I expect an anouncement of a share buyback program in the near future. Though it would make more sense if they did it before earnings and its what I'm expecting.
The only way it wouldn't make sense to do a buyback is if they needed the money for an acquisition in the works which I don't think is the case, and that means they can and should use some of the cash for a buyback.
I like the management of CCME and think they realize the benefits of a buyback for shareholders, and the signals it will send to the markets and institutions about their confidence in the company.
Couldn't have been better with the timing. We really have turned the corner here. More institutional support and another anaylst report and we'll be flying with the earnings release.
In the meantime, marshmallow anyone?
Wonder what the shorts are thinking.
Definately not enough volume for them to be covering, so they may still be confident that they have control. I wonder if they will try to take us down again today or maybe wait and see how next week shapes up and then decide to cover or hold us down.
One thing is for sure, now that a little more optimism seems to be in the air these last couple days they must be getting nervous.
Hopefully the positive news will continue.
I must say its quite surprising we ended down on such a good day. I attribute it more to the weakness in small China caps lately, and shorts taking advantage to cover their positions.
We shouldn't really compare ourselves to FMCN because its a more trusted stock than CCME is at this time. As we get more analyst coverage and more earnings reports the market will begin to compare us to FMCN.
We should see some of the immediate effects for next earnings but until we get some kind of news this shakeout will continue.
About time we had some decent news.
Lets see if this can give us an up day on whats looking to be a bad day for the market.
Thanks for posting that.
Its one thing that can only be learned the hard way I'm afraid. I wonder what stage we're at, lol.
I don't think anyone here ever imagined this stock would trade so cheap. If only I knew we'd drop to low 9s, I'd have left some reserve cash to load up, lol.
Too much fear and second guessing in the market. I have a gut feeling that this may just be a final shake of the tree before earnings start rolling out.
CCME, FMCN, CNYD everyone is getting killed. Hopefully, we can get more than 1 mil on volume to help form a bottom above 9.
I really hope management gives us some kinda of damage control here. An update on earnings, an acquisition in the works, increase of the guidance.
Anyone think we will break below $9?
I don't get it, what's with all the worry? After waiting from January until now it seems as if alot of people are giving up and turning bearish on the stock. For most I assume its the psychological impact of seeing red constantly but look at the facts.
CCME is undervalued, has great earnings coming, a good business moat, and supposedly we will get some some analyst coverage soon, so why is everyone gloomy all of a sudden?
When some of you bought it in the 12s and 13s and you thought it was a good buy why all a sudden when if drops a couple bucks are you gonna sell and forget about all the DD you did. If the fundamentals have changed by all means sell, but don't sell out of fear or regret you'll never win like that.
I like to keep a few points in mind. Mainly, that management of the company has its interests aligned with the shareholders, they have made themselves available and listened to investors requests/suggestions, and Starr didn't invest in CCME just for kicks.
I was thinking the same thing after he responded to one of Fernando's posts way back from March 29.
Your guess is as good as mine. I'm hoping we get some good volume and if the market is good overall we should go higher, but I also won't be surprised if it falls.
Loving the stinginess with CCME right now, its about time people stopped selling below the 13s. In a perfect world no one would be able to buy any shares under 20.
Its good news, but definately not one that one that will move the pps up a whole lot.
We can expect to to get this kind of news perodically throughout the year (we had one in April) and unless it something like 2000 or more buses added in one shot, on an overall good market day I don't think it would give us a short term boost.
Long term is another story though.
Added more at 12.85
New position at 2.45
Who would have guessed with such strong earnings people would sell below $13. Irrational trading.
And with almost 10% short interest, it will be very interesting to see what happens these next few days.