Down trend was in a small part due to the market downtrend in general, the biggest part was one of the ex employees heavily margined his position, and had to liquidate it on a margin call, forcing 400k shares back into circulation, this caused a big drop, caused it to drop under 5, and others had to sell on margin. The Company and some mm's finally made an agreement to pick up the remaining shares, you could see this on Friday's, Mondays's and todays tapes. The upswing should start again (and has, up about a buck over last two days). Company has no debt, great clients, good management and some heavy backers from overseas. I am very confident in the companies future, and very bullish on it. Please call Lacy Loar in the I/R dept at AATK, and I am sure you will be pleased with the conversation.
Regards,
Bob |
