The stock is down -83% from where some of the "smart" hedge fund guys would pitch it to me as a long at "idea dinners" in 2006, and at 20% of the float, short interest continues to build to a level where the same hedge fund community now thinks "its a short to zero".
Additionally, 78% of the sell side's ratings on SHFL are now Hold/Underweight/Sell. In September of 06', according to Factset, 75% of the ratings were Buy + OverWeight!
My Partner, Todd Jordan, has edge here, and we don't think it's a zero. Buying it in the $5.91-$6.26 range is where I'd get more aggressive, but I bought 1/3 of a position in my fund today.
KM
(Chart courtesy of stockcharts.com)
Additionally, 78% of the sell side's ratings on SHFL are now Hold/Underweight/Sell. In September of 06', according to Factset, 75% of the ratings were Buy + OverWeight!
My Partner, Todd Jordan, has edge here, and we don't think it's a zero. Buying it in the $5.91-$6.26 range is where I'd get more aggressive, but I bought 1/3 of a position in my fund today.
KM
(Chart courtesy of stockcharts.com)
