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Monday, November 29, 2010

TSRID - The next Low Float Reverse Split Monster like CTDID was ?

Before I begin, the usual disclaimers apply. Low float stocks can be volatile and dangerous and are not meant for large positions or chasing in my opinion. Do own diligence and do not follow me or anyone we all can be wrong.

That being said, stocks with reverse splits that were left with a low float 2 million or less at the time of the split have made some big moves in the past year. None of them had EPS to support the moves but they had some pretty wild moves.

SCOK - $5 to $53
CALL - $4 to $39
CDTID - $4 to $44

Today TSRI starts trading after a 1 for 2 reverse split yesterday, leaving them with 2m shares outstanding and and approximately 1m shares in the float float.

Read Press Release on Reverse Split

Bloomberg Stats Pre-Split

TSRI closed at $2.30 on Monday so it should open at $4.30 or so Tuesday.

Cash Per Share based on the last 10-Q is $8.7m / 2m shares or $4.35 per share.

Book Value/Equity per share based on the last 10-Q is $12.6m / 2m shares or $6.30 per share

Read Balance Sheet from Last 10-Q

While TSRI is not guaranteed to make a wild move like SCOK, CALL, and CDTI, it has the potential given the reverse split.

Again, Low float stocks can be volatile and dangerous and are not meant for large positions or chasing in my opinion. Do own diligence and do not follow me or anyone we all can be wrong.

Today, as a NASDAQ company specializing in information technology staff augmentation and IT consulting, TSR, Inc. continues to expand and transform its services to meet and anticipate its clients’ IT needs.

3 comments:

Robert said...

Hey Paul,
Thanks for the tip about TSRID yesterday - I got in at 6.15 about 20 minutes after reading your post and quickly made a limit sell order at 8.94 (fidelity only lets me put a sell limit at 30% above the current share price). This morning I was pleased to see that the sale went through at 8.94 yesterday. :)
Regards,
Robert

Anonymous said...

Dropping like a rock now.

Anonymous said...

Just got stopped out below $5 from my entry at $10s days ago. 50% loss in a few days.

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