Yesterday LQDT was flying high - nothing between it and 500 points but fresh air and sunshine - today, to this moment (1:30 P.M.) it has already shed 389 cents and that is, roughly speaking, about the same 90 million bucks in capitalization it made last week on its just OK earnings. What goes around comes around.
There really wasn't any need for the secondary offering except the greed of the participants and consequently a lot of 401K's (LQDT's labor force) got raped and it is all perfectly legal.
How about that - you put your money into your companies stock because your company is a strong, solid place and you know they are doing good things, and you are very proud to be part of that gang - you go to bed on Monday night with a solid retirement fund and by the time you get to work on Tuesday morning your company has killed 17% of it - not theirs - just yours - they're selling 5 million more shares for their retirement fund.
Gotta love it.
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1 comment:
You can say that again.
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