ARDT has 14.73 shares outstanding & $6.85 rev/shr. Using 3X sales would put it @ 20.55/shr, or about $300MM. (HUMCF specifically said they would spend $100-$300MM). Interesting, though, that ARDT does not show any signs of speculation over the last several months. The implied volatility has been in the 60-70 range since Feb98, and there has been almost zero option activity, and very little block trading. REDB, however, is the exact opposite. Needless to say, it's implied volatility has been over 100, with heavy block trading & options activity.
REDB calling you at home is certainly unusual.
Good luck-
JL
p.s. I hope you were able to buy the puts. I also traded the May 7-1/2 puts & wrote some calls against my long term REDB position.
REDB has been quite a disappointment recently. I hope to be eventually rewarded, longer term. In the mean time, I've been milking it as much as I can (it's good therapy for my frustration w/ REDB) |
