Hi Jim,
I took a speculative position in OIS just a few days back, have followed the company many years. Took a large loss myself, a couple years back.
Reason I bought back in, being the 3 day flat period on the chart, last week, watching the trades, very low volume at the ask price.
Just small investors taking 1000 share positions, certainly saw no big buys, but (very few) sells at the bid.
just seemed to be holding up well, and saw little downside from here ... although, one never knows.
I would expect new revenues to be on next q's income statement, that may be the December one? I believe they start selling to allied in September.
It is a real company, nice big building in an affluant Novi, Michigan neighborhood.
If the new revenues do turnaround the stock price, I certainly would not be expecting a double any time soon though ... but ya never know.
Investors will be more careful investing in it now, cause several were faked out at the huge April jump it made upon the new contract news. Those were the daytraders hyping it to the hilt. Probably nymerous "newbies" looking for that free money, got stuck in it as it fell, and they will be looking to dump their shares as soon as they get to breakeven... but that area is over a dollar, at least.
Best of luck...
sue |
