Tuesday, November 20, 2007

 

11/20 SNR: Stick a Fork in York -- They're Done!

It's official: SCO's mega-emergency double-panic fire sale is officially off. Just before the big deadline SCO would've had to disclose exactly what they were proposing to sell, someone -- we don't know which side yet -- pulled the plug. Just when we thought SCO would have to finally make a definite statement about what it claims it owns, after all these years, poof. It appears to me that they're unwilling to do any basic disclosure even with tens of millions of dollars on the line. If the buyer wants to look in the box and verify there really is a pony inside, SCO's just going to leave the money on the table and walk away. The obvious conclusion, one that most people drew years ago, is that there's no pony in the box.

So the immediate question in my mind is how to explain the big 28% drop in the stock yesterday. It's reasonable to wonder if somebody knew about today's news in advance and acted on it yesterday. Of course it's also true that a 28% drop in the stock translates to a whopping 7 cents, so I really don't know if that qualifies as "big" or not. I don't usually follow penny stocks like this, so a 7 cent change might just be random-ish Brownian motion. But having watched SCO for lo, these many years, I wouldn't count on it.

Updated: GL's got the story here now.

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