Michael, on further thought, you are right.
The individual investor owns probably less than 1% of this company.
Management owns less than .25%.
The venture capitalists getting all the free shares and warrants, only to turn around and sell them to retail investors who think a $3 stock is a bargain, will definitely vote for it. After all, they own 80% of this company (or more).
I've heard recently that if you buy a Sparq drive, and return it to the store from where you purchased it, they will no longer give you your money back. They give you Syquest stock instead.
This stock personifies the greed and lack of research in the market today. In 5 years, Syquest stock has lost 82% of the market price (from the Syquest 14A).
Guess some people won't sell until they lose 100%.
BTW, although Iomega isn't the greatest investment these days, it is still up many times its price 5 years ago.
So, please, no comparisons to Iomega. There is no comparison.
P.S. I am neither long nor short either Iomega or Syquest. |
