Rich: I think you may be giving the MM's more credit than they deserve in this case. Yes, someone may have been sitting on the bid/ask, but let's face it, folks ain't exactly beating the doors down to buy VLNC right now. Volume is about average, to a little below average. So all else being equal, and this being a supply/demand assumption...well.....current valuation indicates supply & demand is in balance, no? I'm sure this will change, with time.
As for why no run-up on this most excellent of news.....hmmmm....me thinks this may be because the market views this joint partnership news as the dating equivalent of kissing your sister? ;-) Who can say for sure, but this could be the case. Be that as it may, to my way of thinking this news reinforces the fact that, indeed, the N.I. facility is up; it is operational, and product(best of all) is being produced. Now....if we could only get an idea of its current run rate(from managements mouth, NOT from speculation), and let's not forget those OEM p.o.'s, which most certainly cannot be construed as kissing one's sister(or brother for the feminine participants out there)....
Regards!
John~ |
