Carecloud (CCLD) which has 2 outstanding preferred issues which got shellacked yesterday has released an operations update–no doubt in response to the shellacking.
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7/25/2024
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Tim, thanks for bringing that to our attention. Anyone that took action after DD has a nice gain for now. I’ll hold for now and watch carefully.
Also they are participating in a Google AI project. May or may not be profitable but a good opportunity.
Turned out to be a nice day trade opportunity.
I believe 2025 is their year of reckoning and that assumes nothing on their business side leading into a recession.
Tiny market cap too. They would likely have to sell more preferred equity and common equity (after reverse split).
They will never really be able to get the common moving until they call
the high yield preferred and right now they do not have the resources to do that. If rates go down next year, then we should look for them to call all or part of this issue. Management owns a big chunk of it and probably has not pushed but it is one of the main reasons why the common has not moved.
Personally, would have preferred that they moved into Europe and not the Middle East as that market has a much larger population. Could be issues we are not aware of. SC
They should have bought it on the open market yesterday