Doug,
I appreciate your concern that Jay Taylor may somehow have uncovered information about Naxos' current testing program that he has not disclosed. Anything is in the realm of possibility. However, I find it improbable to say the least. He has alienated himself from Naxos insiders and I find it very difficult to conceive that anyone at Naxos would let him in on any information. The same would apply to others who would have knowledge of what's going on behind the seen, such as people from Ledoux or Lett or Johnson. Of course, maybe some disgruntled person would leak information. I for one would not trust such an inherently unreliable leak.
Moreover, Mr. Taylor himself attributes one of the reasons for recommending the sale of Naxos shares due to "precious little reliable data upon which you can value this company." If it turns out he was intentionally deceiving people about his claim of "precious little reliable data" about the company, he may be liable for trying to maliciously manipulate the stock with false information. Although I have not researched this issue, I have been told that analysts for major newspapers got themselves into trouble with the SEC for maliciously attempting to manipulate stocks and benefiting therefrom by trading those stocks based on such manipulation.
Lets be realistic. Even if we were to assume that Mr. Taylor got a hold of insider information, don't you think others would have also learned of it? Don't you think that this would have caused some major sell off of Naxos shares by either them or through the back door by persons affiliated with them (if we operate under the premise that they would be too fearful of securities law violations to sell shares held by them personally)? Yet, even with the very disappointing report released by IPM, Naxos share price has held up pretty well. If there are indeed poor results and someone is leaking them, I think Naxos share price would be at least where IPM's is today. Bottom line, the possibility of Mr. Taylor acquiring significant information on Naxos testing developments is practically nil. IMO, the only reason and basis for his sell recommendation is his ill will towards Naxos management and that is made clear throughout his diatribe against Naxos.
I don't intend to waste any more of my time on Mr. Taylor.
We'll know soon enough which direction Naxos is headed.
Regards,
sh |
