Category Archives: The Daily Tape

RZ had a precipitous drop today and a bounce seems to be looming. So why such a big drop for the geothermal power producer?

9:25AM Raser Technologies announces $25.5 million registered direct offering ()3.85 : Co announces it will sell an aggregate of 8,550,339 units, with each unit consisting of (i) one share of its common stock, $0.01 par value per share and (ii) one warrant to purchase 0.50 shares of its Common Stock, in a registered direct offering for gross proceeds of approximately $25.5 million, before deducting placement agents’ fees and estimated offering expenses. The investors have agreed to purchase the units at a 22.5% ($0.86625) discount to the Common Stock’s closing price on June 29, 2009 of $3.85. The warrants are exercisable at any time on or after the date of issuance at a price of $4.62 per share and will expire five years from the date of issuance. Link, http://tr.im/qo5U.

Since it climbed back a bit from its bottom we can see that the panic is subsiding. I would look for a good size bounce for this one.

Looks like the short squeeze tea leave readers are getting pretty excited about this one. According to the guys over at ShortSqueeze.com,

The stock has set a bottom here and confirmed reversal with plenty of upside, just the type of stock we look for.

Shares Float 5,360,000

Total Shares Outstanding 53,810,110

% Owned by Insiders 90.03 %

Now with only 5 mil in the float and Short Interest (Shares Short) 2,183,100. We can see a huge short bounce on the horizon.

Big successive gains for the company that is seen as a beacon for investor transparency, LMNX is a darling among investors for a number of reasons. While the company is just shy of ten dollars less than its 52 week high of $27, and has a target price of aroung $20, making this a pretty attractive stock as we look for a rollback or decide to average in depending on how strong it is in tomorrows trading. Our friends over at Seeking Alpha say,

Luminex shares currently trade at $18.07. We recommend that investors hold at the current price given the trade-off between significant potential for EPS growth in 2009 offset by the risk of a considerable decrease in research and diagnostic spending. We would like to see more visibility on how the economic weakness may affect financial performance before recommending the name. Our price target is $20.00, representing 34x our 2012 EPS estimate of $0.90, discounted at an annual rate of 15%. Full Story http://tr.im/qe6f

We had some pretty good luck with ABX and AUY since we first featured them last year.  We picked up a solid +$5 gain out of AUY so far and around $15 for ABX. We mentioned them again about nine days ago and ABX popped a couple bucks and AUY has been about even. With gold though still strong we have to think that todays baskslide that there might be a bit of profit taking and it could be a good time to add to our position. Most analysts look for both to gain +10% over the next year which seems conservative from our standpoint.