FLTX just did a secondary at $46.79, underwritten by Merrill and Barclays. Yes, it’s true, insiders sold some stock and the offering was entirely selfish. Nonetheless, that doesn’t mean this brand new ipo is destined to denigrate shareholder value, just because some bozo (Seeking Alpha hack), who was EXACTLY wrong on AMBA and AVG, said so.
Since the Seeking Alpha hit piece, the stock has plunged from $45 to $38. In my estimation, the underwriters are under extreme pressure to defend FLTX here, and rebuff the absurd claims of some amateur short sellers.
This is a great company, on sale, that is increasing productivity for fleet management in the trucking industry. Growth is robust and earnings have been exceeding expectations. More than that, I sleep well at night knowing that I am going to fleece those suckers from Seeking Alpha again.
As an aside, mostly everything else looks like trash and Obama is beating the drums of war in Syria again. This is classic fall market crap.
UPDATE: I added to my FLTX position
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look at this QIHU
Seeking Alpha at it again with NES. laughable.
are you suggesting NES as a viable investment? I mean are you telling me this SA report is completely full of shit?? Seems to me that even if he is only half right NES (running out of funding) is still going broke
+1 nobody cares about the environment.
I do think its a wonderful investment. In the years to come, this clown will be proven wrong. Is there a liquidity crunch right now, yes, but a crisis of default, absolutely not. Out of the 5 analysts who are employed by top tier bulge bracket firms and cover this stock, they all came out and said this guy is intentionally misleading. Funny, this guy only works for SA, I wonder why he isnt at a big firm or wants to pay attention to financial ratios that the rest of us do.
gotcha…thanks for the enlightenment!
$EGLE payday imminent