William, I don't think 'everyone' wonders why it's 'floating on air' at all. Only those not long the stock, who don't know the status of the product (meets specs, acc. to CEO) or the factory (ready for moderately high volume output now, and much more by end of summer as final bottlenecks at backend are expanded), would think there's no reason to be long the stock at current prices.
Further, it's more than MMs keeping the price up. Many 'deep pockets' on the sidelines, who've tried to time their (re)entry into the stock, are getting antsy and having to up the bid.
PO may be early June (sorry, John), or later in July (if Lev waits for the 'big ones' who are dragging their feet). But certainty of the event is becoming more widely accepted by the investment community.
Once the PO arrives, all heck will break loose, since the 55 institutions who now only hold 'toe wetting' positions totaling 8% will be free to increase their stakes (since the company will then officially be a 'going concern'). Also those institutions currently under restriction will be free to jump on it. Certainly the underwriters of the secondary will do all they can to get and keep the price up. Shorts who haven't covered yet will be scrambling.
It's going to be a fun summer. We're just waiting for the games to begin. |
