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#9069 - 12/20/02 09:13 AM Re: GA has PSA Heads Spooked [Re: vayank]
srs1a
Old, dense-headed hammers are cool. Best nail pounders.


Registered: 08/15/02
Posts: 987
Loc: NY

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I would expect that this may have someting to do with the reverse 4:1 split that I hear is coming (or has come?)...probably someone felt it was time to roll a few heads (????)
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#9070 - 12/20/02 10:16 AM Re: GA has PSA Heads Spooked [Re: srs1a]
deadlyembrace
The Venus Card Trap


Registered: 06/19/02
Posts: 596
Loc: Austin, TX

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The reverse split was effective Monday, Dec 9th.

Since then, the split-adjusted price per share has basically moved sideways. That must make for a lot of unhappy investors given that they've basically lost 3/4 of their investment ...

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#9071 - 12/21/02 12:05 AM Re: GA has PSA Heads Spooked [Re: deadlyembrace]
aconte
Bid more or post more... tough one...


Registered: 02/22/02
Posts: 1896
Loc: On The Beach....where else!

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D.E.

How did investors lose 3/4 of their investment? Wouldn't the overall outcome
in a reverse stock split leave one's portfolio with the same amount of
money for that stock?

I don't understand your post.

aconte
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#9072 - 12/21/02 12:45 AM Re: GA has PSA Heads Spooked [Re: aconte]
vayank
The Amazing Card-Man


Registered: 04/13/02
Posts: 948
Loc: Alexandria, Va

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Investor's may lose or gain on their holdings ultimately, though I think investors' holding were worth the same the day before and the day after the split. The stock has been hovering at $4 -- which equates to a $1 unsplit and ABOVE where it was trading pre-split. We'll see if it stays there.

Again, the resignation is wierd. Four months as chairman and he's out? That's not a long horizon from start to finish. What material facts came to light or personal circumstances that changed within this tiny window?

If it was something personal like he didn't have time for it et al, I think that would have been referenced in the news release to punch down speculation. It is interesting that both Dow Jones and Reuters ran a story off the PR NewsWire release.

Quarter after quarter of losses, followed by two decent quarters, huge write off goodwill due to paying too much for an acquisition, delisting notice, Rick Montgomery leaves, stock split, resignation of new chairman, delisting notice. Given this is all public information already -- you would think people who have their portfolios wrapped in the slab would want a public discusion of what the heck is going on. And you'd think they'd want to do it on their turf. Not talking about it or shooting the messenger is to close one's eyes to events which beg explanation.

_________________________
---- Matthew T. Natale Alexandria, Virginia Completed 1977 Topps Baseball SGC Graded Set, Average Grade 92.89

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#9073 - 12/21/02 07:14 AM Re: GA has PSA Heads Spooked [Re: vayank]
aconte
Bid more or post more... tough one...


Registered: 02/22/02
Posts: 1896
Loc: On The Beach....where else!

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VaYank,

One comment and one question:

This is a difficult environment for CLCT for sure. The economy and competition
are not helping. Also, I believe their expenses are too high based on review
of quarterly earnings releases.

My question is did you post the release information on the Psa board
where it is so widely accepted?

aconte
_________________________

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#9074 - 12/21/02 07:36 AM Re: GA has PSA Heads Spooked [Re: aconte]
vayank
The Amazing Card-Man


Registered: 04/13/02
Posts: 948
Loc: Alexandria, Va

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Aconte > Pretty funny. I passed on posting it on the other Board this time. I was flabbergasted by the reaction last time. CU writes it, releases it to the media and then it gets posted verbatim on their own Board -- when that causes an outcry, the word "spooked" doesn't even come close to being the right word.
_________________________
---- Matthew T. Natale Alexandria, Virginia Completed 1977 Topps Baseball SGC Graded Set, Average Grade 92.89

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#9075 - 12/21/02 08:57 AM Re: GA has PSA Heads Spooked [Re: aconte]
deadlyembrace
The Venus Card Trap


Registered: 06/19/02
Posts: 596
Loc: Austin, TX

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Hey aconte --

On Friday 12/6, the CLCT closing price was 3.48. On Monday 12/9 (the day of the reverse split), the closing price was 3.98 ... about a 14% increase. However, if you owned 1000 shares on Friday, your holdings were reduced to 250 as a result of the reverse split. The 14% price increase was overwhelmed by the 75% holdings decrease. Even though the share price went up, your net investment went down the toilet.

By market close on 12/20, the price had leveled off and traded within a few cents of 4.10 for four straight days. It was trending (if you can call four days' results "trending") sideways.

Also note that the symbol was changed to CLCTD on 12/9.

Finally, vayank's report of CLCT being delisted for not having the requisite number of independent directors is totally accurate. The last report I read suggested that CLCT was petitioning the NASDAQ for more time so that a suitable director could be located.


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#9076 - 12/21/02 09:43 AM Re: GA has PSA Heads Spooked [Re: aconte]
deadlyembrace
The Venus Card Trap


Registered: 06/19/02
Posts: 596
Loc: Austin, TX

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Hi again ...

As I reread my CLCT previous posts, I realize that the confusion may have resulted from my use of the term, "split adjusted" ...

My bad ...


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#9077 - 12/25/02 04:39 PM Re: GA has PSA Heads Spooked [Re: deadlyembrace]
downgoesfrazier
I am gonna miss that car.


Registered: 08/02/02
Posts: 222
Loc: Summer of '77

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Guys,
Every third-party authentication company should be spooked by GAI. They're coming hard and fast. PSA has hit rock-bottom in terms of consistency. Two influential & ardent PSA collectors on popular sets are beginning to submit to Global. More to come. Don't talk to me about what's listed on eBay--the fact is GAI is getting BUSIER while PSA is getting SLOWER.

SGC...opportunity isn't knocking...it's pounding on the door.
_________________________
***********************************************************

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#9078 - 12/26/02 01:42 AM Re: GA has PSA Heads Spooked [Re: downgoesfrazier]
deadlyembrace
The Venus Card Trap


Registered: 06/19/02
Posts: 596
Loc: Austin, TX

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Hey 77s --

Haven't heard from you in awhile, but it's good to know you're still out there stirring up the pot.

In reply to:

the fact is GAI is getting BUSIER while PSA is getting SLOWER.




Do you have a feel for SGC's increase/decrease in business since the roll out of the set registry? Just curious ...


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