In hind sight I should have gone out of this pos few weeks back and not hope to get my money back. With the preannouncement today I dont see us even going back to the 20s for another year or so..
Ouch! Ouch!! Ouch!!! That is the most I have lost in a day
on any stock. That was harsh punishment.
Hard to parse that preannouncement though. I guess it was revenue growth lower than expected. So what the expected rate ? (Preannounced 12%). This is definitely not a stock which will pay, but I wonder how it will go from here.
(i.e. Is this oversold on bad news...as often happens ?).
On the whole the stock smells really bad. Lot of family
connections in management (nothing specific I know, but I
can speculate on all kinds of condoning which a professional
management would not).
In the Yahoo Profile there is bad words like "legal expenses", "executive bonuses", "severance payment",
"higher preferred dividend" <G>
In the press release yesterday, there are words like
"higher professional fees and expenses, related to legal
and accounting costs". <G>
Are those of us (suckers?) who thought they we were long term shareholders being milked and taken for a ride ?
Bad times can come to any business, but the reasons here
do not inspire confidence or smell of professional management. |
