My systems is showing a 500,000 trade 6 minutes after close at $2.77 per share. closing price was $2.98-$3.00 so the the trade is at a 7.7% discount to market.
That tells us, obviously, that it was a seller that was looking for a buyer. My guess is we are lucky. If they tried to sell 500,000 in dribs and drabs we would probably be at $2.00 per share.
I have been wondering when tax loss selling was going to start. I don't know that this is it. But I wouldn't be surprised to see some other big holders try to shed shares before December 31. We may see some more before September 30 when all of the institutions have to report quarterly numbers and generally will be reporting to clients as well. VTSS closed at $3.98 on June 30. Who wants to show a 25% loss in one quarter to a client? Plus we have some (basically all) retail holders underwater.
we will see what hits tomorrow.
Posted by dlog - 14 years ago | Updated 14 years ago
didn't see that trade on my screen - -
opens up in line with the mkt - -on huge volume!!
for vtss - -2019 shares traded in the first 40 minutes.
last is $3.0892 -- love the decisive last two digits.
Posted by daWiley1 - 14 years ago
I guess I have been asleep. I was thinking we would get september 30 numbers no later than Oct 15. But Sept is year end. So we won't see numbers until end of November at the earliest and will probably be in December. And this will be the first time our new CFO goes through closing the books for the year. Typically not a harbinger of releasing earlier than usual.
Management will be presenting at an investor conference next week. If they have anything new to say of importance we should see it in a news release before the conference. Otherwise I would expect just more of the same.
Posted by dlog - 14 years ago
All of VTSS quote unquote peer group companies like PMCS, AMCC and MSPD got hammered share price wise during Q3, which you highlighted in your Compressed Valuations post.....but since Vitesse was already poorly/lowly valued it simply looks worse than it did. As Wiley noted, no SEC filings from the bondies on what seems to be heavy selling thru June 30....if all true looks like they got their original money back and the remaining converts are 'house money' to play with, at 8% interest.
There is pretty much zip, zero and nada volume with Vitesse right now, I had hoped for a nice short term move up from the $3 spot......was waiting for the Austin Lounge Lizards "Jesus loves me but He can't stand you" to play and my pal Jesus would show me some love.....but apparently, from looking at MSPD and Vitesse today I was confused, and Jesus, He no love me today.
Posted by altrfan - 14 years ago
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