Q: I have been holding this since 4$ a share. I am now feeling like there is an opportunity cost of holding this any longer.
"With our third quarter and year-to-date operating and financial results as the back-drop, we are looking forward to a strong finish to 2015 and towards ensuring AutoCanada being well prepared to face continued challenges in Alberta in fiscal 2016," stated Thomas Orysiuk, President & Chief Executive Officer. "In order to provide us with flexibility to execute on our continuing acquisition strategy and to fund our capital expenditure requirements, while maintaining appropriate operating liquidity, we are in advanced stages of negotiations towards expanding our revolving credit facility. As part of this process, we have amended our banking covenants to align with current industry lending practices. Together with our free cash flow from operations, the expanded revolving credit facility will provide us with the necessary flexibility to meet our capital requirements."
I did not like this and the 10% drop today is saying something although the volume isn't massive. I'm interpreting it as 'sell now and buy it back in 12 months' What do you guys suggest here?
On another note, this cold temperature is getting me and my wife exited about our upcoming CMS/5i cruise!
Thanks and have a great weekend.
"With our third quarter and year-to-date operating and financial results as the back-drop, we are looking forward to a strong finish to 2015 and towards ensuring AutoCanada being well prepared to face continued challenges in Alberta in fiscal 2016," stated Thomas Orysiuk, President & Chief Executive Officer. "In order to provide us with flexibility to execute on our continuing acquisition strategy and to fund our capital expenditure requirements, while maintaining appropriate operating liquidity, we are in advanced stages of negotiations towards expanding our revolving credit facility. As part of this process, we have amended our banking covenants to align with current industry lending practices. Together with our free cash flow from operations, the expanded revolving credit facility will provide us with the necessary flexibility to meet our capital requirements."
I did not like this and the 10% drop today is saying something although the volume isn't massive. I'm interpreting it as 'sell now and buy it back in 12 months' What do you guys suggest here?
On another note, this cold temperature is getting me and my wife exited about our upcoming CMS/5i cruise!
Thanks and have a great weekend.