Friday, May 27, 2022 12:04:06 PM
I have more shares in NROM (pizza) and it's the same situation. 40 years of history and in the gutter. Both companies have some bad pasts.
The good thing about this one is that the board is changing. I'm stuck with nepotism at NROM. I have to wait for them to die of natural causes. I think the governance is better over here. Another new board member just yesterday was announced.
They did lose Toys R Us as a big account a few years back. They've had some struggles for sure. But I think it's really cheap by all metrics. Even it's profitable too. They do seem to be headed in the right direction, and Stingray is a good partner to have.
And at this price, I can't see who wins if it doesn't go up significantly. Except hypothetical shorts. And I know a credible source from another forum that claimed to lend some shares to shorts for an interest rate close to 10%, so he's banking! The shorts aren't getting good rates. But that lender is also underwater here with lots of shares, as he lends out his own shares. And he is up there much higher in price.
Eventually, truth prevails. I just hope I understand the traqjectory of truth correctly, and I think I do.
And strangely low volume at the lowest of prices too. After millions traded a full dollar higher this week. And for every seller, there is a buyer. So, nobody gains here as I see it. Even new board member participated in the $4 secondary. Everybody must execute or lose. And I like that alignment of interests. Plus it's accompanied with great value and sales moving in the right direction with a new deal with Wal-Mart to my understanding.
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