Sell now at .22? Bought at .13. Whats ev1 else doing

bought in at .30 this morning. guess i will be holding for awhile. thought I was going to catch it on the uptick. guess I was a little off.

I bought a few weeks ago at .02 and sold last week at .15. I was hoping it would drop down around .05 so I could buy again, but this latest push has eliminated that. I might buy again if it gets down around .10 or .15, if not I'm out for good.

SPSN will be $1+ in a month.

I'm seeing ~$2 by the end of summer in some cases.


It looks like Micron is going to buy them out, and given their cash position and the flow of cash from settlements now and in the future, they are solid.

I'd buy in right now. Gap sellers MIGHT push it back to $.15 (at lowest) in the next day or three, but look for this thing to bust a move north next week.



[This message has been edited by Levins Market (edited 4/8/2009 6:10p).]

Hmm hope so. So I guess its worth risking the $69 I put in at 12cents a share.

Hell, I'd buy in 10,000 shares at $.20 and turn a nice profit in a month.

LM, what makes you think Micron will buy? I haven't seen that. Just curious.

Spansion's CEO and Micron's Management Team have both talked openly about a possible buyout. There was a press release yesterday.

It's pure speculation on my part, but it looks like they are a serious target.

A buy imbalance of 152000 shares at the open this morning. Sounds like lots of folks have the same idea. I got some more at 0.18, time to sit back!

I bailed out of about 30% of my holdings. Put a little cash in my pocket and ahve a bunch of free stock. I am holding now for the big pop.

There are about 161 million shares outstanding. SO in a buy out anything over $1.5 billion is shareholder equity. I believe they have a book value of about $3.5 billion. So even if they fire sale for $2 billion, that leaves about $500 million in shareholder equity divided by 161 million shares = $3.10 per share.

I am considering putting 500$ in and seeing how it does. But what would guys says is the likelihood of SPSN going bankrupt or delisting?

Like someone said in the penny stock thread, I give it a 30% chance of bankruptcy.

Chipotle, they are already in bankruptcy. I give it a 30% chance that the stock will be wiped out.

That said, I just picked up another 5k shares in case some news pops over the long weekend.

They filed chapter 11 to reorganize becasue they could not make payment on their 11% bonds. They were notified about delisting and they are appealing the delisting with NASDAQ.

The fact they are appealing has me thinhking they want to come out of BK and working to save the common stock, or other options like selling outright. But they do have an option to wipe out the common stock holders in BK.

If the fire sale were to happen like you say, the value would be $3.13/share.

A $2.5 Billion Sale would be a $6.25 value.

And by chance they were bought at at or close to book value, we're looking at $9-$11 shares.

They meet with creditors tomorrow. Should be a wild ride, one way or another. Question, since they are BK, do they need the creditors votes/approval for buyout? Could they be getting out of BK protection if they come up with an agreement of lower debt? Let me know your thoughts.

The Bankruptcy Court rules on that.

Yes, its going to be a wild ride, but those of use who are holding are on the right side of the fence for now.

I'm in just to see what happens. Like waiting on Christmas as a kid.

If this thing hits and blossoms to $3-$7, several of us on here are going to be throwing some wild tailgates next football season!

If this hits real BIG and goes to double digits, I'm going to have the Patron girls at every tailgate doing the humpty dance!

I would be very happy with a buck. That would make my year. I have a friend who said if it hits $5, he would retire...at 42.

I do think $5 or $10 is very wishful. This meeting scares me tomorrow, even though my base is $0

Just pulled the trigger this morning. Come on! No Wammies! No Wammies! Big Money!...

uhoh, someone just put up 40,000 shares to sell at $.20c....



[This message has been edited by FDXAg (edited 4/14/2009 10:02a).]

There's been MUCH bigger blocks traded than 40,000 all morning.

Case in point, someone just bought 70,000 @.2066

Antied up another 6500 shares at .202. Put alot of eggs in over the last week. Heres to some positive feed back.

I bought 2500 shares this morning. I pretty much consider this the same as placing a big bet at the blackjack table, so I'm only betting what I'm totally ok with losing.

Blue star for good luck!!!

uh oh

Bought 2500 AH yesterday at .20. Waiting...

[This message has been edited by akaggie05 (edited 4/14/2009 1:59p).]

The stock has been at a stand still for quite a while

Only news I found to was a application from Spansion was made to expedite the hiring of Ernest and Young and to shorten the time for notice of debter to do so. Trying to get the audit complete sooner. Next meeting is 4/23/09. Perhaps the audit is to find the true value of the company?

http://chapter11.epiqsystems.com/docket/docketlist.aspx



[This message has been edited by aero (edited 4/14/2009 5:13p).]

If by quite a while, you mean a few days, then yes it has.


There were rumors running rampant late in the day that Micron has drafted an offer for Spansion. The yahoo and google finance boards were blowing up.

Lm. Do you know when their earnings report comes out?