Replies to post #106745 on Savvy Trades and Investments

[larrybaz]

I've noticed a few infrastructure companies on the new highs list recently. They seem to be in vogue.

SMID eked out a slim profit last quarter, and now they will be posting a loss. I agree that they need to do a little better to support that $23 stock price. The last earnings PR sounded pretty optimistic to me.......not indicative of a bad quarter on the way.

[larrybaz]

SMID - I read their NT 10-Q again today. It seems a little odd to me. Here is their reason for not filing on time:

Smith-Midland Corporation (the “Company”) has determined that it is unable to file its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2023, within the prescribed time period, without unreasonable effort or expense, as the Company requires additional time to appoint a new independent registered public accounting firm. The Company does not anticipate being able to file its Quarterly Report on Form 10-Q until such time that the Company has transitioned to a new independent registered public accounting firm.

They knew they needed a new accounting firm three months ago.