Phillip and all, anyone out there in SI land following this stock. Latest updates: pawnbroker.com
Up to the 24th of Aug PBRR put in a nice cup w/handle price formation, however, flawed with the fact that it was well below the 200 day M/A. On the 25th the company changed it's ticker to PBRRE, the trailing E indicating that the company is delinquent in required SEC filings. Ref:http://invest-faq.com/vse/exch-ticker.html As we all know this created a panic and the price fell apart. In view of recent developments in the fundamentals I am beginning to wander if this panic over the "E" status is on sound ground or just a market reaction? Historically for most companies, a delayed SEC filing is a red flag and hint of negative past results. One thing I hate doing is making excuses like "maybe the company filed for a delayed filing to reflect the results of the recent UBID arrangement" so forget that I even mentioned that. I did, however, take a position with this company because, first, I am impressed with the fact that recently we had a high profile management personnel like Mr Sprio step up to the helm as CEO. Secondly, we have approved financing,(24 Million) from Wall Street institutional firm Ladenberg Thalman, which IMO reflects a good picture from the inside. Comments anyone? Ed |
