Hi el vez,
How's life after Vegas?
We do all understand, (Don't we?), that this stock is, in a large part being driven down by those, whose sole objective is to buy it on the cheap?
Not all of us. Some of us of a more adult persuasion remember the days when a P/E above 30 was a cause for alarm, that tulipomanias occur in every age, that we really aren't that different from those who participated in the South Seas bubble or the Mississippi bubble or the more recent Japan bubble. BTW, were you investing when the biotechs cratered?
No my friend, there is at least an equal chance that this stock is being driven down by the mere fact that reality is settling in with a larger sector of the participants of the market than, say, on April 13 in the late morning.
I do believe that this company has exceptionally good technology, financial backing and marketing ability. I like this company a lot. I just cannot concluded that the current price represents a bargain or even a fair value based on standard accountancy practices. It's a good story stock and as such will be whipsawed by every misconstrued story the media can get their hands on. I'm personally waiting for the next whipsaw for another entry point. The one last Friday was certainly good for a short-term gain.
Your take on branding is very perceptive. If newbies had any clue as to what was truly available on the Web, AOL would be toast. AOL is proof that H.L. Menchen had it right: "No one ever lost a dime underestimating the taste of the American public". AOL has a product that I cannot respect, but by golly, they sure got the branding thing right. Just like Kleenex.....
Ry |
