A reasonable position, Richard. This could very well turn
extremely positive once all the cards are played.
Nonetheless, I've relunctantly concluded we're in for
a short-term slaughter. Too low of a price, just
too many imponderables. I've learned the hard
way in the past that the market doesn't like
such situations. So I took the opportunity
to eliminate 3/4 of my position at the re-open. Still
had a slight profit on the table, and I felt I
had to take the money and run for the hills.
Basically, what put me over the edge was the realization
that we're now investing in a startup company. No
revenue, no liabilities, no brand, just a potential
for a great product. I've
done this before, but always for <$1. My fear
is that we're now heading for that range.
Really hope I'm wrong, since I still have a gvil
position, and because I feel for all the other long-time
believers in this stock. Maybe Apple will come in
and save our bacon, maybe there are great attributes
to this deal that will be revealed in the call.
Maybe! But, for now, I'm going to ground.
Sea Otter
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