This is IOMEGA deja vue! At least for me.
Great company, great products, great management, clear market monopoly, big revenue/EPS growth, huge potential market, etc. etc. but...
Iomega dropped from a high of 55 to 12 when the market corrected early last summer and couldn't recover for a long time (still hasn't).
Their revenue went from 140 mils to 1.50 billions in 2.5 years, but that didn't help keep its stock afloat.
Similar to IOMG, most of Cymer float changed hand between $30 and $37. Most current CYMI shareholders have lost money and just can't wait to break even. That's why there is a huge outstanding limit sell orders, as someone posted a couple days ago.
I sure hope CYMI can recover quickly, but if history is any guide, I think it may take a while. Like Iomega, it has now become one of day traders' favorite, and that alone will keep the price in a range for a while.
Good luck to all. |
