Harbinger Group (NYSE:HRG)
Harbinger Group Inc. does not have significant operations. It intends to identify and evaluate business combinations or acquisitions of businesses.
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The total return has increased over 60% in the last 12 months.
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20 mill in insider sales.... listed under zapata corp in the filings??? hhmm
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TMFDeej thinks this may be the next BRK-A. I'm intrigued enough to follow along here.
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Arbitrage play: now that they're doing the stock trade with Spectrum, they'll have $6.50 worth of stock + cash per share.
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tickerspy kara
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Found this mentioned in a TMF article about cash vs. mkt cap (I have BALT). Interesting "arbitrage" play if you will, if they don't make any bone-headed moves.
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trading for less than cash on b.s....
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Can't trust the whole gigantic batteries that stain the earth technology. That paired with the fact it's a penny stock, scares the bajesus out of me. It's more tempting now with tax relief for alternate energies, but even then, it's not doing it for me.
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I own
BOLT how can I not buy some ZAP
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Buying Zapata Corp is just a way of getting a dollar on your 90 cents. Currently the company is valued at 136M and they have just north of 153M in tangible cash and short term cash equivalents. As someone so righteously put, this pretty much is a no-brainer. They have rid themselves of Omega Protein Corp and now are riding solo with Zap.com. As long as they continue to invest their money wisely I don't see why this isnt a perfect buffer for a volatile environment. Slow but steady the turtle always seems to win the race over the hare.
Nero
Sagetrade
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ZAP is trading at about a 20% discount to its Net Tangible Asset Value... They actually have $7.93/share in CASH, no debt, and the stock is trading at $6.76. This is a no-brainer.
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getting cash at a discount.
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charles/chris "special pick"
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According to http://stocksbelowncav.blogspot.com/2006/09/losing-patience-with-zapata-corp-zap.html, Zapata is selling off it's stake in Omega Protein (OME) leaving it with no operating business, but about $150 million in cash. Obviously the company could distribute the cash to shareholders by liquidating, but the company says it wants to pursue an aquisition. ZAP's stake in OME is being sold back to Omega at prices between $4.50 and $5.125 a share, even though the market price is above $6. Given the track history of this management, there's not much hope of turning a profit, much less out-pacing the market.
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