Every business that raises capital when the SP is too low never recovers. - Look at LBY. It's basically a junk bond - Look at VHT. It has retraced over 25%
OPY is one CR off being classified as a junk bond from my perspective. The overhang on this CR will be mammoth and you can say bye bye to SP appreciation following the raise. Think about how underwater existing placement participants are and how much upside is needed to break-even? What about those investors that bought close to $5?
I can't see a way out for OPY.
OPY Price at posting:
72.5¢ Sentiment: Sell Disclosure: Held
