Looks like Orbis Investment Management agrees with you. they increased there holding to 10%
I want to buy MCE as it is a perfect candidate for some speculation. It is on my "fallen angels" stock screener. Speculation requires discipline and I will not purchase until the Price to Sales is less than 1 and I see some positive company announcements plus media reviews.
Looks like Orbis Investment Management agrees with you. they increased there holding to 10%
Down 14 cents or about 5% at about lunchtime today to new 52 week lows, with no apparent floor underneath it.
Do you have a link to the Orbis rationale for increasing its stake.
There's another analysis below but I don't much trust it:
http://www.buysellsignals.com/10212685
Could not resist this price, got back in today for $2.53.
Do you have a link to the Orbis rationale for increasing its stake.
the downtrend in the technicals is so strong I wonder whether it will get all the way to $1.85 before it comes up for air?
Trading halt pending announcement on operations/finances.
Anyone with any educated guesses as to what may be entailed?
Yesterdays massive slump directs me to think a negative announcement is on the way...!
there is always hope I suppose...
the massive slump yesterday implies that there are a group of people who know something.
I would assume that if it was a take over they would only be selling if the take over price is below say the prices of the last couple of days. but then again maybe they don't know as much as they think....
My guess is that its a announcment of a loss of 2.5 - 5 Mil for the full FY and a capital raise.....
all of the above is complete speculation.
Comes out of trading halt at market open, still no Annuncement.
It's not a takeover offer. Otherwise the announcement would state something along the lines of "a change of control" or "change in control transaction", or "potential material transaction"
IDL's takeover and announcement just happened to coincide with them making a profit downgrade.
Given MCE has had to extend the trading halt and go into suspension for another week, means its taking longer than expected to work out (whatever "it" is).
90% chance this is the worst news, 10% chance its anything good.
I agree. Once it's in trading halt there is no need to not at least say "we have received an offer which we are reviewing". Instead we get silence.
A capital raising doesn't seem right, because the balance sheet at HY looked pretty healthy. Maybe it's some left field event like accounting irregularity.
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