No, not all. KCM was not selling, but rather the James Knight Estate, which is allowed to sell only 34,000 shares per Q, until they own less than 10%. See 10K. The estate sells every Q. This happens when you have a thinly traded stock. Fundamentals continue to look strong, as LEIX continues to forecast profitability. THIS is a major buying opportunity IMO, and in which I added significantly today at $5 and $5 1/16.
Now I will agree, that today's sell off, surprised me as I thought more support would be in place. My guess is today caught a few by surprise, and we'll see a dramatic bounce back. And yes, the liquidity issue goes both ways. But I remain confident, now more than ever, that LEIX still offers a great profit potential.
Market cap of under 20 million? That's less than one quarter's sales!
Good Trading, LF |
