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- MathStar Receives Another Merger Offer from Twice Spurned Suitor
- Greenbackd submits: MathStar Inc (MATH.PK) has received another merger offer from PureChoice, Inc., this one providing for a $1.04 per share cash payment to the MATH stockholders. We’ve been following MATH since December last year see our post archive here when it was trading at $0.68. We...
- External links 2009-05-12
- Exiting CRC as Its Liquidity Crisis Deepens
- Greenbackd submits: Chromcraft Revington CRC has filed its 10K for the period ended December 31, 2008. We initiated the position in CRC in December last year see the post archive here because it was trading at a substantial discount to its liquidation value and a substantial stockholder...
- External links 2009-04-21
- Why We're Exiting Amtech
- Greenbackd submits: We are exiting our position in Amtech Systems Inc ASYS at its $5.65 close yesterday because the stock is trading at a substantial premium to our valuation. We opened the position at $2.78, so we’re up 103.2% on an absolute basis. The S&P500 Index closed at 712.87...
- External links 2009-06-03
- BusinessWeek Cover: Classic Contrarian Indicator?
- Greenbackd submits: BusinessWeek aims to keep its impeccable market forecasting record intact via BusinessInsider: by Greenbackd
- External links 2009-10-02
- Axcelis Technologies Files 10Q Update for Q2
- Greenbackd submits: Axcelis Technologies Inc ACLS has filed its 10Q for the period ended June 30, 2009. We started following ACLS on January 8 this year see our post archive here because it is an undervalued asset play with an activist investor, Sterling Capital Management, holding 10.7%...
- External links 2009-08-20
- Carl Icahn: U.S. Government World's Biggest Activist Investor
- Greenbackd submits: In his blog, The Icahn Report, Carl Icahn argues in a new post, It’s Up to the Shareholders, Not the Government, to Demand Change at a Company, that “shareholders have been complicit in allowing management excesses and incompetence by not taking a stand.” Nell Minnow, editor and...
- External links 2009-04-16
- Buffett Behind Stock Buybacks
- Greenbackd submits: Warren Buffett took the opportunity last Friday to lend his considerable intellectual weight to the debate about buy backs, saying, “I think if your stock is undervalued, significantly undervalued, management should look at that as an alternative to every other activity.” We’ve been banging the drum for...
- External links 2009-01-26
- Irrational Buy Back Behavior
- Greenbackd submits: We’re often banging on about stock buy backs to anyone who’ll listen. We like them because they represent the lowest risk investment for any company with undervalued stock. The S&P 500 peaked at 1,576.09 on October 11, 2007. It’s now off a lazy 47% to 827.50. It’s...
- External links 2009-01-22
- Rackable Systems Suspends Buyback, Agrees to Acquire Silicon Graphics
- Greenbackd submits: Rackable Systems Inc RACK has announced that it is suspending its buyback and acquiring substantially all the assets of Silicon Graphics Inc SGIC for “approximately $25 million in cash, subject to adjustment in certain circumstances, plus the assumption of certain liabilities associated with the acquired assets.” Without...
- External links 2009-04-01
- Analysis of the Pershing Square vs. Target Proxy Fight
- Greenbackd submits: Steven M. Davidoff, The Deal Professor, has an analysis of the proxy fight between William. A. Ackman’s Pershing Square Capital and Target Corporation TGT in his NYTimes.com DealBook column, Target’s Challenge. Pershing Square has a fund dedicated to its investment in TGT, which Davidoff says controls...
- External links 2009-04-01
- Rackable Systems Radical Buy-Back Should Increase Company's Liquidation Value
- Greenbackd submits: Rackable Systems Inc RACK is a new undervalued asset play with a plan to repurchase almost 40% of its stock at current prices. At RACK’s $3.56 closing price yesterday, the company has a market capitalization of $106.4M. We estimate the company’s liquidation value to be 60% higher...
- External links 2009-03-11
Additional Resources
- Forward Industries: Cheap and Attractive
- Greenbackd submits: Forward Industries Inc (NASDAQ:FORD) is a new position for us. We haven’t deviated from our love of deep value (it’s trading at a discount to net cash and liquidation value), but there’s no obvious catalyst in the stock at this stage. Management appears to be considering a...
- External links 2009-07-20
- Net Cash Stock: OrthoLogic Corporation
- Greenbackd submits: OrthoLogic Corporation CAPS is a little unusual for us. While it trades below its net cash value and Biotechnology Value Fund BVF has disclosed a 13.42% holding, BVF’s holding is passive. At CAPS’s $0.60 close Friday it had a market capitalization of $24.4M. We estimate the net...
- External links 2009-02-28
- VaxGen Still Looking to Return Value to Its Stockholders
- Greenbackd submits: VaxGen Inc VXGN is a bread-and-butter play for us. The company is trading at a substantial discount to its net cash position, has ended its cash-burning product development activities and is now “seeking to maximize the value of its remaining assets through a strategic transaction or series...
- External links 2009-03-26
- Facet Biotech: An Intriguing Activist Play
- Greenbackd submits: Facet Biotech Corporation (NASDAQ: FACT) is a new category of investment for us: special situations. It’s an activist play with a catalyst in the form of Dr. Roderick Wong’s nomination for the annual meeting of an alternative slate of directors, including well-known activist investor Robert. L....
- External links 2009-04-22
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