This morning, before the market opens, ASVI is reporting it's earnings for the 3rd quarter of 2006. Disappointing numbers, lower than expected are taking the stock price way down in pre-market trading at this time... bad timing on my part, getting hit by unforeseeable negative news.
Too late for me to bail out, I am holding the long position and will reassess the longer term outlook in the next several days, after the dust settles.
The good news is that the company has authorized a $50 million buyback of its shares over the next 3 years, this action tells us that it has a more positive view for the future.
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