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LPIH down today
Posted on 4/29/10 at 12:48 pm
Posted on 4/29/10 at 12:48 pm
Just for yucks I added Longwei Pete Investment Holdings (LPIH) to my watch list after reading a little about it on here. It’s down over 9% today while the DJIA is up 1.2%. Checked for news on LPIH but came up empty. Any of the quants on the board have a feeling about them?
Posted on 4/29/10 at 12:55 pm to PlanoPrivateer
Nothing's certain but I would bet my bottom dollar on warrants being converted. The company's close to being fully diluted but not ... quite ... there ... yet. Still have a sizable amount of warrants outstanding. The good news is that this has happened before. In fact, it happened early last month (see March 11). This is "good news" because LPIH both today and on March 11 has seen very high buying pressure to match the selling pressure from the conversion of warrants. Back in March, once the conversion was over, LPIH quickly shot back up to where it was before the drop. I suspect the same thing will happen here. I'm looking at this red tag special as a gift.
By the way, here's the 8-k which includes LPIH's most recent slides from their virtual conference this past Tuesday.
LINK
By the way, here's the 8-k which includes LPIH's most recent slides from their virtual conference this past Tuesday.
LINK
Posted on 4/29/10 at 1:05 pm to RedStickBR
Well, thank goodness I'm up 25% with them.
Posted on 4/29/10 at 4:48 pm to RedStickBR
Thanks for the response and the link. The 8 K shows that 1.3 million warrants outstanding between March 2010 and June 2010 and about 5 times as many (6.7 million)between July 2010 and June 2011 so I see what you mean about a sizeable amount of warrants outstanding. I don’t know. I feel like I’m standing at the roulette table trying to decided black, red or do nothing. I kind of want to place a bet and play.
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