Gordon: Last weekend I mentioned Second Opinion (a T/A service) had put out a strong buy on VLNC. This weekend, Second Opinion, which still officially rates the stock a buy, mentions "mildly deteriorating conditions," and says that holders of the stock should not initiate a new position.
Looks to me like the stock is going to stay in a fairly narrow trading range until more fundamental information becomes available.
I would assume, since the last conference call was Feb. 17, the next will be about mid-May, or about 3 weeks away. Just my guess, but prior to the last conference call, we saw a bit of a speculative runup, because people thought the conference call might confirm the prior expectation that production would begin in the 1st quarter. Should there be an absence of news prior to the next conference call, I wouldn't be surprised to see weakness going into the call, because the lack of news might cause the perception to be the next conference call confirming a lack of progress. |
