MGV, of course, the addition of 3% to the float cannot be considered positive, but on the other hand, many of these shares will end in the hands of current stock holders (those that bought during the class action period), and as long as VLNC continues and show progress toward becoming a major battery manufacturer, whatever selling may be generated could be relatively easily absorbed without too much of a penalty. If you see the $29 to $30 area being breached, the story may change, but you must admit, that as of right now, VLNC had all the excuses the market provided to have a serious retrenchment, and so far, it is holding its own quite well.
Zeev |
