I received my copy of CYH's Financial Statements and notice of the AGM/director election in the mail last week. There isn't much to make me any more optimistic about this company than I've been for the last few months (eg, '96 saw a deficit of over $1M, compared to $300K for '95). Does anybody have any feeling as to the direction of this company, and when it will "take off"?? I've been waiting for a long time. Sort of reminds me of Samuel Beckett's play, Waiting for Godot (Godot never shows up). I thought the finalizing of the deal with AT&T Paradyne would surely spark something good. I also believed the exhibitions in Atlanta and through Europe would lead to something.
The really discouraging aspect of the stock price is the inability to sustain value around 1.30-1.40... it keeps falling back to the 1.00-1.20 range (Monday close 1.05, and so far 2000 shares at 1.15 on Tuesday after 30 minutes from market opening).
There are very few buyers. Is nobody interested in CYH?? According to canada-stockwatch.com, there are only three buy orders right now, but quite a few sell orders (as of 8AM ASE time):
Buy orders (bids):
1000 @ 0.90, 40,000 @ 1.00, 3000 @ 1.01
Sell orders (asks):
2100 @ 1.20, 2000 @ 1.25, 4500 @ 1.30, 4900 @ 1.35, 1400 @ 1.38, 45000 @ 1.40
(As I complete this message, I just noticed two more orders go in to buy: 1000 more @ 1.01, and 20,000 @ 1.10. Incidentally, the 20K buy is from Majendie, which seems to be accumulating lots of shares daily. The 2000 traded so far was bought by Majendie. I wonder who is trading through this house, and whether it represents an attempt to move the price up (by an insider?) Majendie always puts a bid ahead of the others.)
I got in before 5-for-1 consolidation, at the equivalent of 1.65. :( I will wait until this summer with fingers crossed.
RC |
