The stock on Friday rose to $3.65 from $3.39, a 7.67% increase. At one point intra-day, it was even higher, hitting $3.80, a 12.09% increase from the previous day. However, the stock is still along way off from its 52-week high of $7.30
On Friday, the amount of shares traded was almost three times the average daily volume of 102,580 shares during the prior three months. And this morning, the stock price was up almost another 2.5%. One recent investor in AMV, who spoke on the condition that his name not be used, tells GlobeSt.com that he bought the stock because he thought it was undervalued. He says that he likes Conforti's idea to liquidate the company or buy it. Conforti estimates that the break-up value of the company is in the mid- to high-$5 range. Analysts who cover the stock place the one-year target at $5.52 per share, which is 51% higher than its Friday close.
The investor tells GlobeSt.com that his fear is that the board of AMV would consider a poison-pill defense to make a hostile bid for the company too expensive to undertake. On the other hand, according to the Motley Fool, of the 24.1 million shares that are outstanding, 3.5 million, or 14.5% of the company stock is owned by insiders. By that metric, insiders would directly benefit from a rising stock price.
However, some speculation on the Yahoo! Message board says that it is time to take advantage of the latest stock rise and sell. The argument is that the company has not sold its assets during the past year, at a time when interest rates and cap rates were at historical lows, so it is unlikely that they will get a premium for their holdings at a time when interest rates are rising.
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