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Not good, I'm out this morning 18k loss. Just heart wrenching
Looks like greg taxin is the new managing partner at Luma Asset Management. With him on the board, and Clinton group still involved. Then add Karp Reilly who hired Ed Thomas when he stepped down as wetseal CEO in 2011. Now he's the CEO of wetseal now, and Karp Reilly had shown interest in taking wetseal private in the past. Seems to me somethings brewing, imo
I'm a nervous as a whore in church, lol! Something positive has to come out between now and earnings. Hopefully the extra time for earnings release is to finalize some financing, maybe?
i hope .25 is the spring board up
I hope your right
todays filing indicates at the end of the 3rd quarter nov 1st , the company sits at 19.1 million in cash. at the end of the 2nd quarter they were sitting on 40.3 million in cash. one could do some math on those numbers to guess our 3rd quarters earnings? they had to release that information today to inform some noteholders their cash is now below 20 million.
lots of volume today, when does the bleeding stop? man im sitting on a hell of a loss here. whats your opinion on greg taxins intentions on joining wetseals board and leaving clinton group? if i read the filing correctly, clinton group pushed for taxin getting a board seat in a side letter agreement.
Read back a few news articles , he has a good track record with the company in the past. Maybe he can strengthen up the ecommerce again
I see Jon kubo picked up a two hundred thousand shares Monday at .57.
down 20% next day up 20%?
well if thomas has an update for us bagholders i wouldnt mind hearing it. theres absolutely no positive forward guidance right now besides the managment shuffle, and their track records.
you know something we dont?
nice upward move today, i couldnt help myself to add another 4k yesterday. im all in here, lol
Do we bounce off .50 again tomorrow, or do you think we head lower?
i sure as hell hope .50 holds/bottom. that was actually the floor for the stock in 2003 i believe, not like that means anything. im out if we see a dip below .50 , down ALOT of money here!
dont you feel theres more to the story here? doesnt it seem odd the timing of b rileys upgrade to a buy with a 1.50 price target? it wasnt long ago they downgraded them with a .50 price target. b riley also seemed overly excited to have ed thomas back at wtsl, and cant wait to get started on the private placement with him. i like rothstein as head director, find it odd greg taxin of clinton group is on the board. i could go on here, but it seems something is playing out here?
not sure what happened to my last post? yeah i agree with thinking .65 was bottom. i bought this to high and let emotion get in the way of my sell at 8% loss rule. im tempted to cut my losses here.
Rothstein picked up another 15k shares tuesday, the market could care less. Doesnt the company look more attractive for a buyout when its market cap is less than half its quarterly sales? Or is clinton group waiting for the death of wetseal?
I see he picked up I think 10k at .70. It would be nice to see Steve Benrubi make a buy also IMO.
just no bottom to be found
B Riley upgrades wet seal to a buy with a 1.50 price target. CEO ed Thomas bought over a million shares yesterday average price .67, and I guess George Soros also bought in. That explains the pre market trading
is it even possible their earnings today would come in lower than previously released? one would think you'd lowball that a tad?
in my opinion, wetseal as a company has hit rock bottom and things should start to improve. i had a feeling they would miss on earnings this quarter with all the distractions such as the arden b closings, and wetseal plus store conversions. b riley seemed overly excited to work with the new ceo, and help with the private placement, and they're normally so negative on wetseal. having adam rothstein as chairman of the board, and greg taxin from the clinton group on the board, and the clinton group buying shares is a positive. we can only hope they paint us a rosy picture on the quarter 3 outlook, but im down about 50% on my holdings so what do i know, lol!
What's going on with the share price?
That does sound weird to broadcast the earnings call. Usually it's an earnings announcement. I'm sure it means the same, imo
earnings sept 10th ah
Yeah I feel the same way
It's tough watching a piece of crap stock rally today like aeropostale, and every other retailer stock up today. And here we sit at 88 cents all morning with a 200 share roadblock at 88 cents. This thing is being held down, and I hope our day in the sun is coming!
Any thoughts on earnings Thursday?
just venting a little here, but this stock is tough to watch trade. i'm avg around 1.40 from a few months ago. kinda wishing i'd sold atleast half my position around a 1.10 the last time it rallied.i do believe this company can turn it around, thats why i invested in the first place.just didnt think it would be beaten down so bad as of late. with the transition to wetseal plus taking place late 2nd qtr not sure how good the numbers are going to be. waiting for earnings seems like russian roulette,lol!
that review sounded pretty upbeat. she mentioned they shouldve addressed the old arden b signage.
thats a sizeable decrease in short interest from almost 18mil to 12mil.
tight trading range today, we just need a little catalyst here.
Been holding awhile as well, waiting for better days
retail stocks apparently arent taking part in todays market rally
i cant believe the short interest in wtsl? as of 6/31/14 nasdaq has it at 17.8 million shares short. isnt that 25% of the outstanding shares? if 2nd quarter surprises with some improved numbers things could get interesting imo.
interesting last 5 minute rally today to close green. 90 cents held today at support.
Its a long read but Clinton group states in it on how they like to focus on wetseal