Joel,
Would I be concerned about continued insider selling?
Not necesarily. I expect to see insider selling at any company where options are a significant part of compensation. I was not surprised about the sells in the fourth quarter of 96. These guys had been blacked out until then. As far as Nageshwar is concerned you need to do your homework. I am not concerned about his sell. BTW, you accused IOM with manipulating its stock price so insiders could sell. Well, where is the long list of sellers? Also where are the juicy tidbits you referred too?
Now about IOM's stock price. You know why it isn't moving. The week US sells offset the positive revenues, earnings, margins. People are affraid IOM can't sustain the growth and profitability of its operations. I believe those uncertainties will become clearer in the next two quarters. If I and the longs are right, the price will rebound. If not, then its going to be a bummer of a summer.
I think the facts are in favor of the longs. Ramp up almost done, Penang, OEMs, industry trends (present floppy doesn't cut the mustard anymore), price, strong management. I couldn't ask for better odds.
Patiently Long,
John
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