I should note we have a bigger fish that has been nibbling too lately. So there's some balance to PERT selling these days.
It isn't like PERT is screaming to get out, they've been pretty balanced over the last few years selling.
Remember last Q earnings report when the stock tanked but then rose on strong bid support?
I think SAMNOTSAMUEL dropped like 30K shares at $2.05 and got his sell order filled. My guess is maybe liliancap was making good on his mention that if the stock sold off on earnings that he would use the opportunity to increase his position. Might have been him building a position. Coulda been someone else, not really sure just guessing.
Not necessarily a bad idea to sit it out for trading in and out with PERT on the ask sometimes in near term.
PERT is not always a big block though so people can be psyched out sometimes if they think every time PERT shows up on the ask that it is a bigger seller. Sometimes it is sometimes it isn't.
I am sitting on my (for me) big position because I still feel this company is not closely recognized to its inherent value.
What we could use is some institutional interest to get us going but the company doesn't have the polish many institutional investors flock to.
Some of my valuation is based on margins I am thinking they can get once they have more established footholds in areas and with customers.
That part remains to be seen, where they can go with margins as they continue to ramp.
I think they have a very solid biz model with a dominant product that as long as pricing can stay firm will generate very nice cash flow for the company in the years coming.
The masses IMO won't show up until the big #s do (hopefully not too far out).
But by that time hopefully we have a good chunk of shares locked up into tight hands and away we go with momentum and volume :-)
Who knows, if the stock caught fire and went screaming to $10 or more and they looked to uplist to possibly the NAZ it might be worth a shot for the company to do a secondary offering at that point (nowhere near current price levels though because the value of this company IMO is not anywhere near being recognized so keep the organic growth for now until we get more fairly valued).
If institutional interest is there, the share price has strong momentum, and a secondary can raise money to put up mills in several areas of the world to grow like the weed I want them to be then I would be fine at that point with the idea :-)
At current prices tho I would scream bloody murder if they tried that LOL (issuing shares to raise $ for large expansion). Keep the organic growth course for now until this company gets more recognized as a cash generator in the markets.
If that stock price mo' kicks in bigtime in the year and there's a good shot to raise equity to put mills up all over then at that time I would say OK. We could sure use a couple in the states and Canada for sure to supply OEMs and miners IMO. South America too.
It is a long ways from Perth and probably not too cheap to ship the heavy plate so far. Distributors IMO just aren't as efficient at making $ for the company as having mills nearby, direct sales offices, and plate being made directly by the corp.
If we get lucky and get the mo, push the price way up, get a secondary done to spread mills out all over the world creating exponential growth, then maybe this company can become a big cap in the wearplate industry in the not-too-distant future:-)
Back to sit and wait for now... The above stuff is my hope and dream. Doesn't always work out that way.
So I'll keep dreaming for now.
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