Ever since Orchids Paper Products (TIS) issued their secondary offering, the stock has plummented about 30% from a high of $22.98, just before the offering, to below $17 this past week. Earnings reported this week were as predicted, .52 per share. The low for the stock this year (March) was $6.40. Looking at Clearwater Paper (CLW), I see similarities in price movements this year. CLW had a low below $6 and a high of $50 last week, or more than double TIS's high. The possibility of a stock offering by CLW is hinted by the company. I'm beginning to hopefully wonder if TIS is a takeover candidate. An SEC filing in October showed that a 5.1% stake was taken by a brokerage firm that amounted to about 300,000 shares. There was a 300,000 trade in TIS on the day they announced the secondary price setting of $18.50. Right now this is just wishful thinking but after the beating the stock has taken since the offering, one tends to look for any signs of good news. What I find disturbing, however, is the almost 300,000 short-interest in the stock. So on one hand I see 300,000 shares being bought by an investor and 300,000 shares being sold as part of short sales over the past few months. If the short sale figure drops and the stock rises because of the so-called, "squeeze", I might be looking for some sort of announcement or just enjoy the move! If nothing changes and the stock is still flopping around, then it will be many months before we see any kind of 2009 action again. Does anyone see a takeover as a possibility by a larger paper company or investment firm?