*SCALPSWINGSTRADDLE*

[dav1234]

Premier Exhibitions hits iceberg
In addition to weak FQ2 operating results, the company's sale of its Titanic assets has fallen through, with Premier (PRXI) terminating the non-binding LOI with the Hampton Roads consortium effective today.Premier has attracted value and special situation types who argued the Titanic assets made the stock a buy even if attaching zero value to the company's operating business and balance sheet cash.The collapse of the deal could hardly be a total surprise to investors and tomorrow's action may give an idea of whether the near-50% decline in the shares over the last six months has priced it in.From April: The bull case from SA Pro's Chris DeMuth, and the (thus far correct) bear rebuttal from Squeeky Wheel.From this summer: Why Premier may work even without the Titanic Sale from SA Pro's Whopper Investments, and Squeeky Wheel beginning to turn bullish after the collapse in the stock price.Shares -3.3% AH to $1.46 in very thin trading.




I would think that selling Titanic stuff would be easy? Too long after the movie I guess..lol