IMIC develops, markets, implements and supports client/server application software that enables manufacturers, distributors, and wholesalers to effectively manage the supply chain. For the six months ended 10/31/98, revenues rose 20% to $46.8 million. Net loss totalled $14.7 million vs. income of $3.8 million. Revenues reflect continued market acceptance of System ESS. Loss reflects increased service and maintenance costs related to expansion in the U.S. and Europe.
52 week high is $33, near the career high, so potential is/was there. 50 & 200 DMA is crap, but even out through a 2 year chart, you can notice the volume the past few days. OS/Float is 32/12. Showing $2.58 cash, with a book of $3.31. This porbably is not updated to include their continued bleeding. Heavy insider buying (IBuys) from 3 bodies starting last Summer, including CoB, holding 630K. Prices were around $6...much bigger volume Friday than today, in response to earnings disappointment, so today may be just a dead cat optimism. Need to check the underlying TA. Threads are pretty dead.
The play: Watch it this week to see if volume stays high. The 140K/day average does not beg an easy exit, even w/a tight spread. If high volume continues, and price breaks up also, there should be plenty of room to for profit, or get up on a stop loss. |
