Re: after-hours bid/ask quotes:
After the close of the market, most of the MMs remove their offers. Sometimes someone may leave them open... I don't know if it means they are automatically available for after-hours trading or not.
I was fed Valence shares after hours from the Pacific Stock Exchange, once... But Valence is not currently on the list of stocks available for after-hours Nasdaq trading. Sometimes you see large blocks swapped after hours, between MMs who want to settle their accounts.
The interesting moves will be made in the half-hour leading up to tomorrow's open.
More interesting will be how long CC chooses to contain the price by dumping against their warrants (priced at $6.75). They're leaving a lot of money on the table, IMHO.
FYI, there was a lot of market-making coming from daytraders at the ECNs today, and at the very end of the day, it looked like they were closing out their positions (since they don't want to hold the stock overnight). That was the main reason for the selling at the end. When volume buying reappears in the AM, they will be among the first ones to start taking it up, to collect the shares to trade with during the day.
It would be nice to see the same pattern follow this PO announcement as we saw last time: a delayed buying reaction, with strong upward movement once CC's shares are depleted.
Certainly I don't know any longs who are looking to sell shares here... we're just getting going. We expect more POs to follow the next month or two, as the company fills up their production queue.
BTW, good pricing on these cells: looks like $2.63/wh. Just take $10/cell divided by 3.8wh/cell (=1mAh*3.8v for the 'standard' thickness StarTac cells). Indications are that this is higher than li-ion prices (which had even sagged to $1/wh at one point last year, for large cells sold as extra units with laptops; but have since recovered somewhat as demand increases to absorb the oversupply from overbuilt capacity). The company is being quiet about their costs, but ballpark estimates would put this pricing well above their costs to produce (assuming steady run rates). Guess we'll hear the details in the 10Qs a couple of quarters down the road ... or else in analyst reports this next quarter (released AFTER they get their own clients into the stock). |
