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Non-Tech : Emcore Corporation (EMKR)
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To: Hawkmoon who wrote (431)3/27/2008 11:37:28 PM
From: The Ox  Read Replies (2) of 640
 
I still think the bear raid and the timing of Citron's report is specifically designed to keep EMKR's price low while they entertain splitting the company. With an IPO needed to raise capital to fund the necessary expansion of the solar side of the biz-- amazingly --now is the time Citron comes out and bashes EMKR. They didn't do this when the price was $14/$15 a share when it would seem a more reasonable time to strike a bear raid. No, this didn't happen until the spin out or IPO was being kicked around publicly.

“Progress in each of our business segments continues to point towards the path of separating Emcore into two separate companies,” concluded Richards. “Given the fact that the size of renewable energy projects contemplated will require dramatic and unprecedented expansion, it is likely that the board of directors at this March’s meeting will determine that, in order to finance this rapid growth, Emcore will split into two separate businesses: a standalone fiber-optics company and a renewable energy company that would be spun off to Emcore shareholders after an initial public offering (IPO) to raise the capital in support of the significant growth in the terrestrial power business,” Richards said

One month after I post the above note, we get Citron's short call.

Hmmmm....

JMO

TO
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