Author Topic: LC Fourth Quarter 2017 Earnings Release and Conference Call Tuesday 2/20  (Read 2007 times)

Rob L

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Well, the action way back on 3/1 and 3/2 was not a short covering rally.
Mr. Chen bought himself another 12,501,254 shares at prices between $3.14 and $3.80 over those two days.
He now owns 97,814,405 shares of 408,995,947 total outstanding (per the LC annual report for FY ending 12/31/2017).
That's now roughly 24% of the company. Blue Horseshoe loves LC :)

https://www.sec.gov/Archives/edgar/data/1318400/000131840018000003/xslF345X03/primary_doc.xml

The filing date was 3/5/2018 so that's how I missed this in the first place. Dumb luck I stumbled over the filing this afternoon.
Somehow I thought the report must be filed within 2 days so I guess I thought wrong.

Meanwhile LC stock has been in a rather steady decline after the rally to $4 on 3/12 and is now at $3.34.
Today 4/9 was the largest volume day since the 3/1-3/2 buying spree rally. Roughly 10M shares today. Average daily volume has been around 4M shares.
There is a fair amount of short interest but not extreme (29M shares) or about 7% of the float, but of course this info is rather dated.