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Park City's 7% stake in Resonant ?3

09:13 18-Aug-17


I ignore most 13D filings, but the one from Park City indicates and activist stance.  With the rebate rate on RESN now just below 5%, it seems like the hedge fund is out to make a quick buck by talking buyout.  I'd already alluded to Resonant's growing appeal to filter firms that are (currently) much higher in the food chain, and I can agree that the market is undervaluing Resonant's prospects.  However, the company is one of the few I would prefer to see given time to mature independently and any single-digit sale price would be disappointing to me. 

The filing could affect the stock in the short term, but I hope Resonant management politely ignores the sale suggestions.  I think that the recent open market insider buy indicates such an attitude, and staying independent should be made easier by the unavailability of RESN options.  The board could even go so far as to include a poison pill in the articles of incorporation, but the less of a distraction this becomes, the better, in my opinion.