Ok folks.... Disclaimer... I HAVE played this stock in the past but am not at the moment. I have done VERY well in the past. IF I was playing it right now I would be looking at the following transactions and issues.
Parbai Mohnish is now down to 18,115 shares and has been running extremely high sell orders the last 2 days.
Philip Trenary (CEO), Doug Shockey, and James Mcghee (the big 3 at this company) have been buying and executing sale orders like it's nobody's business. Over 100,000 shares bought BETWEEN JUST THESE 3 in the last 2 days of trading.
There have been 0 institutional shares (reported) since Sept 08. Even funds and institutions that were "cleaning" up the Q4 balance sheet and year end holding WOULD NOT put money into PNCL since it is down far more than the average airline stock.
The company is now OFF "recess" with negotiations resuming Jan 26th with the mediator.
The company has put out a displacement bid for 30 CA's which chops off all the upgrades that were pretty much "out of seniority" (aka street folks and junior FO's) as the only posturing move against the pilots with upcoming negotiations. Ironic timing. Especially with both sides already short handed.
Obama will be in for a week before negotiations- not much COULD happen that fast but the person who looks to be the nominee for the NMB is EXTREMELY labor friendly.
We have options for more -900's that the mgmt group wants to operate. DL is putting out the -900's but we need a contract for more flying (it was in the last ASA -service agreement- that ran the stock up from $4 to $19).
Colgan voted in ALPA.
I think its insider moves in expectation of big changes, Pabrai is also on a sell spree since he didn't listen to Warren's advice.
I am steering clear but 1K shares would be an easy play. Put a stop at $1.50, if it hits that put on a short order- cause if things don't get hammered out with the company the stock is NOT going to chill at this P/E and valuation. Look at the overall industry for the going ratios.
Just my $.02
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