I don't have the crystal ball that other posters seem to possess, because I really didn't know the better direction on this. As I wrote earlier, both options were distasteful, but neither is completely destructive.
I still have some concerns about the CEO's behaviour in the long run. and I am uneasy about the new board's mandate from three shareholders (who hold 19% of the shares) to re-hire the former CEO, even if the new Chair said he will do "appropriate checks and balances".
As for comments that share price will rise significantly or even "fly": just settling this matter will likely increase the share price because it brings stability and quite possibly a better board chair.
But no one seems to notice that the vote was tipped by only 3% of the votes overall (approx 53% for, 47% against). Equally significant, the majority (about 53%) of direct votes -- mostly from people with large holdings who attended the meeting? -- were against the removal of the board! So, while posters are gleeful, some of the 47% of shareholders may feel less motivated to remain with this stock.
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48.0¢ |
Change
-0.005(1.03%) |
Mkt cap ! $228.9M |
Open | High | Low | Value | Volume |
49.0¢ | 49.0¢ | 47.5¢ | $73.57K | 154.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 29998 | 47.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
48.0¢ | 9149 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 20799 | 0.475 |
6 | 59879 | 0.470 |
3 | 12638 | 0.465 |
3 | 105850 | 0.460 |
4 | 29096 | 0.455 |
Price($) | Vol. | No. |
---|---|---|
0.485 | 9516 | 5 |
0.490 | 55531 | 8 |
0.495 | 18712 | 6 |
0.500 | 125318 | 10 |
0.505 | 26500 | 4 |
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