Even though PNSN is not being official held in the portfolio any longer, we will continue to provide information on PNSN at least for the time being. The key question is if the present price discounts the dilution. The other key question is if there is more information that the
The stop hit on PNSN and the position is no longer being held. However, we recognize that some subscribers are still holding PNSN. We asked PNSN a number of questions and also requested them to verify the authenticity of the following letter: March 28, 2012Dear Valued Correspondent As you have
Stops hit in today’s action. We recognize that aggressive subscribers are still holding this position and therefore we will continue to provide updates on PNSN. PNSN sell off appears to be triggered by a proxy filing by the company. The proxy has a section on debt restructuring, which details March 13 agreement. Perhaps some
The Fundamental Case for PNSN is Still Positive PNSN still is drastically undervalued from a long-term perspective. PNSN derives significant revenues from providing clearing services to brokers. History tells us that over a long period of time, volume of transactions increases. This long-term trend is beneficial for PNSN. There is an increasing trend towards independent RIAs
PNSN is falling after restructuring. Those not in the stock may consider starting a 10% tranche right here around $1.00. Also consider adding a second 10% tranche in the zone of $0.80 to $0.93. Those in the stock may consider adding a 10% tranche in the zone of $0.80 to $0.93.
Adding a 10% tranche to Penson Worldwide ( PNSN ) at $1.30. Penson Worldwide appears to be getting several MF Global accounts.1 Those not in Penson stock may initiate a 10% tranche around $1.30. Those already in Penson stock may lightly add to the position. We
We re reproducing a prior post from ZYX Buy Change Feed on our earlier Bank of America (BAC) trade and its effect on Penson (PNSN). We have received a number of questions on BAC. The answers can be categorized as follows: Those subscribers who have direct access to ECNs
Our thesis behind buying Penson Worldwide (PNSN) was two fold: Penson Worldwide was drastically undervalued and it was an acquisition target. Penson Worldwide still is drastically undervalued from a long-term perspective. From a very short-term perspective, the blood bath in the stock market has put Penson Worldwide’s earnings
Those who did not take partial profits on Penson (PNSN) on Friday have now a second opportunity to take partial profits around $4.41. We will continue to hold the core position. Those not in the Penson may consider waiting for a deep pull back. We will provide
Our position Penson (PNSN) is rocketing this afternoon. Penson presented at Global Exchange Conference yesterday. There appears to be take over chatter. We are taking partial profits at $4.44.