$oldier Hard
9 years ago
The O/S for GIG is 44.1 mil and it is most likely growing imo but at what pace I don't know. Keep in mind that they filed an S-3 for $50 mil on 11/23/15 that went into effect on 12/09/15.
No doubt that most everyone is aware of that, including institutions. So the float depending on institutional buying and holding in their ports remains a question.
Still, I'm not concerned. The $3.00+ may or may not come soon. Perhaps the upcoming investors conferences will bring even more interest. I believe the Roth is next week, the 13th - 16th.
It popped through first resistance today but pulled back. Rarely imo, unless there is significant news will it get through and stay through. Think of it as a battering ram. Its' got to pull back and gain more strength and volume today was about 100,000 under it's 10 day average. Tomorrow is another day.
farviewhill
9 years ago
Thanks for the info. I was just too busy earlier to look, but appreciate the info.
Obviously sales brought the share price below the 50 dma, but I'm curious if you have any thoughts/info on why that happened?
I didn't see any fundamental changes in the company or pr's, etc.
It appears to have gotten caught up in the market downdraft and curiously to me, it hasn't bounced back with the strength it had just recently shown, especially in light of so many positive BUY recommendations, good earnings/guidance, etc.?
farviewhill
9 years ago
Interesting to safely speculate, imo, that institutional investors who have been big past buyers of GIG, must surely be adding to their positions at these bargain levels. We'll see this in the upcoming mutual fund and etf quarterly report.
Company fundamentals remain strong and very promising, coupled with a just announced major new exclusive distribution partnership in Japan, all just add to GIG investment appeal going forward.
These days represent value buying days, as GIG hasn't really recovered from the recent market correction yet.
I continue to add.
farviewhill
9 years ago
As expected, GIG is just way too cheap, having gotten caught up in the recent market correction.
Today two major firms came out with BUY recommendations, citing numerous positive and constructive fundamentals, one of which is that GIG is currently selling way, way too cheap less than 10X 2016 earnings.
Fundamentals/revenues/earnings and guidance are just too strong and positive.