so are the shorts all covered now? to me that is the big question. if they are not i guess we could assume that pps will continue to decline into triple 000's.
if management was aware of this shorting why did they let it happen continuously over such a long period? as i understand your point of view, etc. was going to be taken private specifically to avoid any access for short players to run down its value? seems to me that is management raising the white flag before the fight is even begun. in the process they completely abandoned exph.
there are strategies available to counter short sellers. i was just in a stock that was being shorted and the company released a pr and brought buyins.net reports into the mix and applied more pressure by releasing pr's basically confronting the shorts and calling them out. in two days the stock jumped 100% as the shorts were running for cover. they probably wont come back because they lost alot of money covering and now they know that management will not tolerate an orchestrated short position in their stock.
why did exph management just sit back and allow this to continue for months to the point of taking their ball and going home by trying to take etc. private? so much money has been lost by longs it seems to me a crime of negligence on managements part.
why remove etc. from expo?
why didnt expo sponsor the truck races?
why no fins?
why increase share count?
(insert your ???'s about inexplicable activites here)
imo jd cut this stock adrift and let all this happen, shorts or not. perhaps he just didnt know what to do. im not sure about the motivations behind all this.
what will ultimately solve this problem?
wouldn't any kind of buying pressure have finished this short game long ago?
its clear that management overplayed its hand with the etc. debacle (note the drop in pps since sept '09, no national retailer, and ultimately jd's resignation) but it did not have to come to this with exph approaching triple zero's unless that is really what the stock is worth. how are we going to know what its true value is without the company reporting and giving the market #'s to work with?
to me, any short activity is simply players identifying a weak ceo and company and using it to their advantage. all of this is the result of company mistakes. thats what invited any short players in and thats why pps is where it is. asking them to leave isn't going to work. they have to be kicked out.
the current pps is managements doing. all the rest is consequences of those actions and inactions imo.
any shorts (MM or otherwise) were invited in and given the keys to the place. as they are known to do, they've helped themselves to everything in the fridge, racked up the phone bill and took all the money off the dresser.
the only people that have suffered here are longs that believed in management. the flippers made their money, the shorts have made their money.
ultimately, for me, the question is WHY did the etc. pump happen in Sept '09 if management didnt sell shares? i wish i knew the answer, but ive narrowed it down, in my mind, to 2 possibilities.
crooked or incompetent.
either way its the same result
turn the page
jmo
