well if today is December 9, 2011 - -then we have a new 13 G filing for VTSS.
Looks like Billy called and raised . ..
Raging Capital
(a)
Amount beneficially owned:
3,116,627 Shares*
(b)
Percent of class:
12.7% (based upon 24,487,978 Shares outstanding, which is the total number of Shares outstanding as of December 5, 2011 as reported in the Issuer’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on December 6, 2011).
so that explains much of the action - - -and he is the second fund to go over the 9.9% voting limit - -explain that if you can.. . . .
VTSS has been as high as $6.00 and as low as $2.08 in calendar 2011. it does not take that long for this volatile issue to move in large percentages. Thus the shelf is armor on the mantle for now and might not even need to be used.
VTSS close the week on improving volume. The stock made a new weekly high. This confirms a higher low on the longer charts. The historic low of $1.80 and the $2.08 last higher low are the basis for a power surge in the writings of David Reif, CMT.
VTSS needs to test and then break $2.80 and settle above $3.00 as the next plateau. For now we have seen a fund buyer. We need to match that up with a filing for a fund seller, as VTSS is so tightly held that these were not purchases from a retail or market maker account.
So at least Raging Capital is happy with their purchase on this day. VTSS will be among the percentage leaders in price appreciation in this industry and the NasDaq in the next 24 months.
Also noted today were slips by TXN and ALTR. also, CIEN reported and you can listen or read the call - basically, they are 12-14 times larger than VTSS. They echo the same weakness in Asia and Europe. But they tout design wins without numbers, and say the market will be booming sometime in the next 3 years.
Nice week.
Here's to many more.
Posted by daWiley1 - 16 years ago
This is encouraging that Raging Capital hedge fund is interested in VTSS and increasing it's holdings. They have shown good performance for their holders. I believe Royce & Associates has also increased it's holdings.
All we need now, in the face of European worries and INTC reducing it's 4th Qtr outlook, is a catalyst to spur an increase in our stock price.
A change in management (i.e. ouster of Chris Gardner) would be a prime candidate!
Posted by Techinvestor - 16 years ago
TI,
One can only hope and pray; but thus far, our worthless BOD has elected NOT to act in the best interest of the company and its bag-holders, as clearly evidenced by the fact that CRG is STILL the CEO of this steaming pile of dog shit 5+ years after the meltdown. But it looks like the BOD over at AVP (Avon) finally had their fill and gave that worthless CEO the pointed boot, but only after she "earned" millions is salary . . . we should only be so lucky.
Posted by G - 16 years ago
G-
You would hope the BOD is interested in making money for themselves (assuming they are shareholders). CRG is an engineer at heart- why don't they hire someone with management skills to lead this company- he is a proven failure!
Posted by Techinvestor - 16 years ago
According to SEC filing yesterday, he's still buying more.
Posted by sharpinvestments - 16 years ago
I am not really sure if this warrants it's own heading but:
William C. Martin has stepped up to purchase two derivative securities which are convertible into 553777 shares of common stock at a price of 4.50
It looks like these are exercisable on 10/30 of 2014
but are only exercisable by Martin if he is a sub 9.9% owner.
Does this mean that since Martin now owns well over the 9.9% limit that he will most likely be the fund that drives the transaction of shares into the 2014 time frame, bringing him then under the 9.9% limit?
Maybe dlog or another more intellectual mind than me can explain more of what this all means to the forum.
This is included in the most recent filing of Form 4 of SEC filings dated Jan.12 2012.
Posted by christ3opher - 16 years ago | Updated 16 years ago
Posted by 