Great day today, PNCH up 33% on above average volume. Looks like the recovery process is well on its way. It also might be possible that the CEO’s (Steve Samblis) appearance last night on Investors Hangout went a long way towards alleviating some fears and concerns that investors had over the recent issues between Mr. Collins and Mr. Samblis. You can follow the conversation starting here with Steve’s first post. Best we can tell, Steve stayed on the Hangout for almost 3 hours answering questions.
Now, of course there will be (and has been) some who will criticize Steve for not answering every question. Just keep in mind, he answered the questions he could given the situation at hand. As reasonable people can understand there are some questions, and aspects of the issue he simply can not, and should not, discuss. Its a shame that he is criticized when he doesn’t talk, and criticized also when he does talk. We prefer it much more when he does address the issues he can discuss. And, judging by the PPS today, apparently many other investors feel the same way. Its refreshing to see a CEO willing to address the shareholders so frequently and honestly.
Will the gap fill tomorrow??? Who knows, but we think there is a good chance it will. Remember, the PPS opened at .0055, then closed at .0049 on the day of the news release Friday. We closed today at .0040, so the recovery is well on its way ! A 33% increase, on heavy volume, is a great recovery in anyone’s book !