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Strategies & Market Trends : Turnarund Investing
NOVS 0.0666-16.0%Aug 1 5:00 PM EST
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To: maiaturnaround who wrote (295)4/12/2012 10:28:28 AM
From: turnaround_seeker1 Recommendation  Read Replies (1) of 1876
 
Re: Volume and Liquidity

Thanks maiaturnaround for your feed back on volume and liquidity and athough I tend to agree with your reasoning, I was involved in a turnaround situation that resulted in a 10 Bagger back in 2003 that like Novastar was demoted to the pinks, had been as high as $25 while trading on the NYSE and dropped all the way to .08 a share after the demotion, but had plenty of volume and liquidity the whole time I owned it on the pinks?

This company was HLS or Health South (still in business today), and although it was in a totally different industry and their turnaround story was different than Novastars, there seemed to be a fair amount of institutional following while it went all the way from .08 to over $5 on the pinks when I exited my position.

I guess one of the major differences in the two businesses is the fact that as many as 50% of the current owners of NOVS were former owners of NOVSP, and they aren't interested in cashing in just yet or until such time Novastar shows what they can do. Regardless, I believe Novastars miscreant predators controlled trading in the stock before it went to the pinks just like they are still manipulating it today.

Finally, until such time the miscreant preditors and hedgefunds are no longer in control, or they decide to let it roll, we'll just have to remain diligent and patient.

Rich
aka
Rooky

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