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Archive for the ‘Special Situation’ Category

Piotroski’s F_SCORE in practice: Highway Holdings Limited (NASDAQ:HIHO)

Posted in Highway Holdings Limited (NASDAQ:HIHO), Special Situation, Stocks, tagged , , , on December 7, 2009 | 2 Comments »

Highway Holdings Limited (NASDAQ:HIHO) is presently the only stock listed on the American Association of Individual Investors website with a Piotroski F_SCORE of 9, the highest possible Piotroski F_SCORE. An F_SCORE of 9 indicates that HIHO is “financially strong” in Piotroski’s framework. An F_SCORE of 8 indicates that it has failed on one dimension, and [...]

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Cadus Corporation (OTC:KDUS)

Posted in Activist Investors, Cadus Corporation (OTC:KDUS), Carl Icahn, Net Cash Stocks, Net Net Stocks, Special Situation, Stocks, tagged , , , , , on September 29, 2009 | 7 Comments »

Cadus Corporation (OTC:KDUS) is an interesting play, but not without hairs on it. First, the good news: It’s trading at a discount to net cash with Carl Icahn disclosing an activist holding in 2002, and Moab Capital Partners disclosing an activist holding more recently. At its $1.51 close yesterday, the company has a market capitalization of [...]

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Special situation: MRV Communications Inc (OTC:MRVC)

Posted in Activist Investors, MRV Communications Inc (OTC:MRVC), Special Situation, Stocks, Value Investors for Change, tagged , , , , on August 25, 2009 | 1 Comment »

MRV Communications Inc  (OTC:MRVC) is an activist play with Value Investors for Change – who recently filed proxy documents in relation to VXGN – seeking to replace the “current, ineffective board of directors” with a new board of “highly qualified, independent directors committed to realizing for all MRVC stockholders the fullest potential of their investments.” [...]

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Bob Chapman says we may be in “the most dynamic passive investment environment of a lifetime”

Posted in Activist Investors, Robert. L. Chapman, Special Situation, Stocks, tagged , , on August 12, 2009 | 8 Comments »

Robert L. Chapman, Jr. recently resigned as Chief Executive Officer of EDCI Holdings Inc (NASDAQ:EDCI) to focus on Chapman Capital in what he says “may be the most dynamic passive investment environment of a lifetime.” In the announcement to the market, said Chapman in his inimitable style: Having ablated and amputated certain incontinent expenditures, and [...]

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Facet Biotech Corporation (NASDAQ:FACT) alternate slate withdrawn; Greenbackd exits

Posted in Activist Investors, Facet Biotech Corporation (NASDAQ:FACT), Robert. L. Chapman, Seth Klarman, Special Situation, Stocks, tagged , on May 7, 2009 | 4 Comments »

Dr. Roderick Wong has withdrawn his slate of director nominees for election at Facet Biotech Corporation’s (NASDAQ:FACT) 2009 annual meeting of stockholders. Wong’s withdrawal means that our investment thesis is gone, and we’re closing the position. We opened the position at $9.13 and closed it at $8.96, which means we’re down 1.86% on an absolute [...]

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Special situation: Short Genaera Corporation (NASDAQ:GENR)

Posted in Genaera Corporation (NASDAQ:GENR), Short, Special Situation, tagged , , , on April 30, 2009 | 2 Comments »

Genaera Corporation (NASDAQ:GENR) is a first for us: a short play. The company has announced that the board of directors has approved a Plan of Liquidation and Dissolution forecasting distributions of between $0.002 and $0.0173 per share contingent on a sale of its assets. We believe the most likely outcome to be a distribution of [...]

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Special situation: Facet Biotech Corporation (NASDAQ:FACT)

Posted in Activist Investors, Baupost Group, Facet Biotech Corporation (NASDAQ:FACT), Robert. L. Chapman, Special Situation, Stocks, tagged , , , , on April 22, 2009 | 11 Comments »

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. Chapman. The dissident slate has called for a cash dividend [...]

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