While my goal is to get out, it's also not to lose money. If the PPS starts to plummet when the bulk of the common stock is available to trade, I'll sit on mine. If it rises in a steady fashion I'll sell some and likely hold a part as a wait and see. The hodges still have to prove themselves after their abysmal handing the last year or more.
This past week of nothingness is not necessarily a good sign, not a bad one either. Actually no sign at all of what the future holds. The old saying of "one aw sheite wipes out a bunch of atta boys", OK not the exact saying but close. They have a whole bunch of the "A-S" that have to be overcome to gain credibility. The last hodge statement where they won't sell, blah, blah, blah is not believed because of past performance. It's hard to gain credibility anyway but when they have made deliberate lies and "mis-statements", it's even more difficult.
Personally I think a house cleaning, or partial one is needed. Fire IRR and get someone else. While IRR only releases what the hodges authorize, they are the face of many false statement and replacing would be a window dressing of trying to change the credibility image. New face and actually follow through with something said would go a long way to restore that fragile credibility.
Sort of like someone with bad credit. To restore it you take out a small loan pay faithfully and pay it off. Do that a couple times and people will start to trust you with their money and a bigger loan. Put out some smaller PR's making a promise of performance, actually do what you say and do it again. Maybe after seeing they will actually honor their word, people might put some faith in what they have said.
This past week had virtually no volume. Nearly all the shares traded were insiders cause most like mine are still locked up in the conversion. If you looked at the L2, there was a lot being offered at really low PPS and we know the L2 numbers only show a facade of what's there. No buyer interest, period. Half of yesterday's volume was me seeing if a purchase would go through and how it would appear on my portfolio. In retrospect, I should have made it 50, not 500.
At any rate everyone have a good weekend and we will see what next week brings.
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