Fred and all - Dug out of some heavy duty CO drifts to get to a functional computer today, only to be rewarded with the encouraging posts on our sleepy thread. (I'm hoping this will look like the Ramtron thread on amphetamines in another 6 months.)
Fred's post is a reminder of how comparatively small the float is.
And, if all goes well, there may not be a need for a secondary anytime soon, as bankers may be more than happy to get a piece of Valence under their thumb. (With rates historically low, I'd like to see them go with debt rather than give away shares at this point.)
Given the future supply/demand implications of this small float, I'm continuing attempts to monitor the strength of the shareholders, particulary in this ugly market. On Friday for instance, some presumably "need to sell" quantities popped up - there was a size of 400 (to 10) on the ask at one point. But someone quietly stepped in at the 8 to 8 1/8 range. If this continues in the next few days, I'll be a bit more comfortable joining you guys with further buying on margin.
This treacherous market is the perfect opportunity to gauge the committment of VLNC shareholders, IMO.
I will say that, as of Friday evening, the Dessauer people - who I consider to be very knowledgeable on Asia matters - are calling this debacle a buying opportunity. (They are long term investors.)
Best, Bill |
