Anonymous
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Anonymous
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You have to keep in mind that this is essentially a privately traded company. All the insider trading and crazy shenanigans that pissed off the SEC and DOJ were basically kept in-house. Very difficult to track it down. Bring in a new Board, new buyers, offer some deals and the management team attempts to cash out whilst they still have time. Anyone find it interesting that the bottom was falling out of the sales numbers, there were multiple lawsuits and, still, the price went up? Not that complicated. Boys will be boys and will protect their own. That's why an insider was brought back in.
A couple factors effecting the stock price. Once the DOJ investigation was over the uncertainty was lifted and that's what got institutional buyers buying again. 2nd the bad sales numbers that were bad were not as bad as Wall St expected. So companies get rewarded for the numbers not being as bad as they thought. 3rd, the revenues have somewhat stabilized creating a floor for things to start inching forward. I also assume the SEC investigation for improper booking of revenues must have went away and nothing criminal was discovered. Again lifting any uncertainty. Ofix is on a tight leash with the DOJ for 5 yrs, so I don't believe for a minute that any shenanigans are going on.