Re: What do y'all think about SGMA at $5.66? ... VTSI
Roth and Maxim knew the direct offering of 3mil shares was coming well over a month ago.
And how do you think they got the buyers to agree on $6 when the shares were in the $4s?
And why did the buyers agree to $6?
Today's Sched 13 filing gives you the definitive answer.
The buyers of the 3mil shares knew the direct offering was coming and they planned for it and last Tuesday they executed their plan.
They drove it up with fictitious back and forth trades and then algos kicked in and they
shorted millions of shares in the 8s and 9s.
It was zero risk cuz they knew they would be given 3mil shares at $6 in a few days.
Furthermore, with the volume now staying high, all those shorted shares have been covered AND the buyers still have their 3mil new shares.
It is a beautiful thing for those in the know, and not bad for nimble/lucky longs able to sell and now buy back.
ALL THE ABOVE JUST MY OPINION.
THe thing I like is that the CEO now MUST perform or he will be replaced. HE only owns 6 or 7% now. And the with $24mil in net cash the EV is only $31million.
The other GREAT GREAT thing is that todays filing is PROOF that this offering was in the works for well over a month which means there is BIG GOOD news coming between now
and MAy 15th when Q1 will be announced.
AGAIN JUST MY GUESSES
I also bought alot of shares today.