I'm a buyer/adder under 6, but i'm still getting comfortable trying to trade short term on asset plays because I typically don't fish those water so it's still a fairly small position
I have been debating whether to buy more. I think they may report earnings this week and I'll be interested to see the current NAV. The downside seems limited but I imagine it will drop if the market drops.
Re ran the model and it's still grossly undervalued. The cash from the starboard shares =5.15 a share. They already have net cash on the balance sheet of ~$3, If we assign zero value to their private investments, their BV/Share is 7$ and with the dilution exercised: $5.72. Was busy last week, didn't notice how low it dropped. Planning to buy a lot more.
Are you buying with both hands? They also recently settled some patent litigation.
I'm a buyer/adder under 6, but i'm still getting comfortable trying to trade short term on asset plays because I typically don't fish those water so it's still a fairly small position
I have been debating whether to buy more. I think they may report earnings this week and I'll be interested to see the current NAV. The downside seems limited but I imagine it will drop if the market drops.
Re ran the model and it's still grossly undervalued. The cash from the starboard shares =5.15 a share. They already have net cash on the balance sheet of ~$3, If we assign zero value to their private investments, their BV/Share is 7$ and with the dilution exercised: $5.72. Was busy last week, didn't notice how low it dropped. Planning to buy a lot more.