Wednesday, October 03, 2018 3:10:48 PM
I didn't have that problem because I was always balancing between stocks. When it was time to take some money out of SIAF I simply did. And vice versa. That's why I made money on SIAF. Unfortunately I didn't have much luck elsewhere either.
Always tricky to guess. "fair value" is close to $15 but they can probably beat it down to $5 on weather issues or other nonsense. Their problem is, they have 2 appraisal firms saying the company is worth $15 so I doubt they can acquire it for anything less than $3 without getting into serious trouble, legally. That's why I said we should probably think about a $3 to $5 price range. Also, they have the cash for that. They need to purchase some 20% of 157M shares. At $5 that's close to $150M. They should have twice that amount in cash now.
The other thing to consider is, Ms. Wu, 7% shareholder, probably won't let it go for less.
But it's a $15 stock when acquired by Gansu Yasheng Industrial. Left or right.
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