@thewritser

stocks and stuff

stocksandstuff.com
Joined February 2014
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Pivot of the day:
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Kevin Tang pivoting from biotech to 3D printing: sec.gov/Archives/edgar/data/… $NNDM
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$CPIX seems, like $CVV a while ago, another stock that is being pumped, crazy volume and volatility today, but it actually seems ... reasonably priced? Sold a subsidiary for 100m, diluted mcap 70m. I'm sure it's a shitco but it's priced at liquidation value despite the pumping.
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Just a tourist here. If anybody is familiar with the company I'd love to hear it. Undoubtedly it's a total shit show but I bought a handful of shares just for fun.
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$RYAM: large shareholder lobbed in an unsolicited $11 - $12 bid a week ago. Today the CEO resigns and the company hired Morgan Stanley to look at strategic alternatives but shares are down on massive volume? Why? I'm probably missing something, just don't know what.
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$maps fascinating price action. No firm opinion, but seems strange that a company with $60m in cash that was worth ~$120m yesterday is now worth ~$70m because it is going to delist from the NASDAQ. Delistings often present interesting opportunities.
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And yeah, I understand that there probably is some signalling in the move, i.e. we're not going to take this private and we might screw you over. But still this seems like an enormous move in enterprise value caused by what you could (very optimistically) call a non-event.
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Add it to the pile of small caps with crazy price action around a delisting: $OMCC, $SFES, $TTSH, just from the top of my head.
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$CVV one of those interesting situation where it is clear that the stock is being pumped today but it also looks ... kind of cheap? $15m from the sale, $8m cash on the books already, real estate worth $15m+ and an interesting remaining business operating around break-evenish.
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more replies
Now trading over $6 which was my ballpark estimate of liquidation value. Maybe it is worth more but I have no strong opinion about the CVD segment. Sold most of my shares. Got lucky with the outcome but I liked the setup.
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And bought those shares back post-market 50% lower as the market didn’t like q4. PR still suggests to me that they are considering a sale / capital return / reverse merger or something along those lines.
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Fascinating stock. No opinion.
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Situations like this remind me of Luby's. On September 9, 2020 the company announced it would liquidate and estimated $3 -$4 in proceeds per share. Somehow the float turned over 5 times that day (or something like that) but the stock closed at $2.22.
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The liquidation paid out $2 in 2021 and $4.49 in total since then, with more left in the bag. Not buying a shitload more that day is one of my bigger errors of omission. I'm sharing this just to point out that massive volume does not always result in correct pricing.
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$DSGR: anybody familiar with this company and/or J. Bryan King / LKCM? Seems like a big spread to me, even considering the deal is preliminary. Couldn't resist buying a few shares but there's probably some hair I am missing.
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Probably too hairy even for me but $CASI received a preliminary proposal from a director to take the company private at $1.15 a few weeks ago ( sec.gov/Archives/edgar/data/… ) . Shares are down 67% today on a delisting notice.
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Wrote a little piece about $AIRI. Unfortunately the stock traded up a bit the past few days but I still think it's a special situation worth watching. stocksandstuff.com/p/downsid…

Downside Protection? (AIRI)

Defense industry special situation.

stocksandstuff.com
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As a Dutchie I would like to point out that I strongly believe that: 1. The proposed new tax system is bad. 2. Yet you are better off blocking anybody on X who shared a hot take or viral video or whatever on this topic the past week.
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It's still a horrible proposal, don't get me wrong. But anybody who suddenly was ranting about Dutch taxes last week without any nuances is either an agitator, a simpleton or trying to monetize your outrage. You need none of those in your feed.
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That's all I am going to to say about it, I'm no expert on the subject either. Back to stocks!
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