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Essentially this company is comprised of 25 driving ranges scattered about the Northeast. There are 9 million shares outstanding- at todays close that puts the market cap at almost 300 million dollars. Sales for the first 6 months were 10 million with about 1.5 million in profits. Trailing P/E is 116 !!!! Now I understand they plan to revamp these driving ranges and improve their appeal but how many golfballs can one hit?!?! The market is paying for the next 10 years of earnings NOW! The stock recently made a new high on big volume at 36.5 and has already fallen 4 points- started out around 5 so I think there is plenty left to go- down that is - what do you think?? Love to hear all comments- obviously I'm bearish. Remember, we're not talking a limitless high tech company here- just a bunch of weekend hackers at the driving range whose limits are way overdone. |
