As people abandon stocks and good companies go off to die as fundamentals don't matter anymore to stock investors we should see more of this sort of deal. I know people don't remember this but there are actually BUSINESSES behind these 3 and 4 letter symbols - yep, people, and machines, and products. Some won't go to zero. I know, I know - hard to believe. It's just not a game of moving symbols around on your screen screaming YAHTZEE! on the latest daytrade.
I actually LIKE this company fundamentally but the stock action has been dreadful; in this market technicals (charts) are all that matter. So indeed we have been waiting for a lift to short it (which never has arrived) - quite ironic. You can see everytime it hit the 20 day moving average, shorts demolished the stock. Quite amazing really - you'd think they were filing BK from the stock action or were a TARP recipient.
- Axsys Technologies (AXYS), a manufacturer of defense surveillance and imaging systems, has put itself up for sale in an auction that drew a first round of bids on Tuesday, sources familiar with the matter said.
- The sale is being handled by investment bank Jefferies, the sources said, asking not to be named because the auction has not yet been made public.
- The company is asking for roughly $60 a share, causing a large value gap between the seller and possible buyers, the sources said.
[Dec 23: Axsys Upgrade]
[Dec 12: Time to Buy Axsys Technologies?]
[Dec 5: An Outperfomer in Defense: Axsys Technologies]
Long Axsys Technologies in fund and personal account
4 comments:
Errr... Isnt EVERY publicly listed company "up for sale" technically speaking? I dont understand what todays price pop is about...
Theoretically yes
but AXYS mgmt seems to have put themselves on EBAY
lol ... Okay... and if the deal is off the stock goes down 45%... no thanks, I'll spin the roulette another day :o)
or if they deny the deal.
etc
nothing easy out there.
and every stock now is a gamble lol.
not like old days when you could buy that safe GE!
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