ABTX
Lawrence,
The fact that this gapped points less to a shakeout than a concerted move by the big players involved. ABTX always thrived on speculation of its being taken over. They announced on Friday they weren't pursuing that any more, and thus today's action, IMHO. I guess the followers aren't as thrilled to be sitting in a forage-grass company as they mighta thunked:
"Although the company will likely continue to pursue opportunistic acquisitions, management's focus has shifted to maximizing the exceptional asset base which the company has acquired over the past four years. Integration and biotechnology are expected to be the company's main focus over the next year. Integration of the 33 acquired companies into one unified, customer-oriented team is proceeding nicely."
Imagine saying that, and then you gotta put speed bumps by the exit door?
Three other thoughts:
The director's name, John Thomas, is Cockney rhyme-slang for the male genitals, and I think it's important to remember that at all times.
I listened to an entire conference call once, and I never understood Mark Twain's phrase, "the serene confidence of a Christian holding four aces," until I heard John's voice: You can practically hear the tumbleweeds working their way down the deserted streets of Dodge as he speaks. If you ask this guy for the time, he'll either tell you the time he thinks you want it to be, or he'll tell you the time he wants you to think it is.
Cats have rules. Wait three weeks, then we'll talk
Pardner.
Ivan |
