I for one would like to see the price go DOWN. The further down,
the better...(LOL!)
Seriously though, I would say that unless MCOM gets into the publicity hype game, the manufacturing of news game, which they could not sustain forever and would ultimately undermine their credibility -- the price should trend lower on Friday. Why? Volume is decreasing. Today's volume was the lowest since July 2nd, by my research.
Reality is setting in. The forward looking statements in the earnings (lack of and may never have) report were obvious attempts at "trying to spin toward the future" amdist increased spending and further losses.
Me thinks Paul Allen had to cough up more dough on this one because his first round of money has probably already been flushed. Cough up more now, or it's over, philosophy.
But, Metricom's modem is a good one. In fact, I use it for sales demo's! But, can you make a market of high end sales schmoes like me?
MCOM's respectable and I like them, but man, they have such a tough row to hoe that...
It might trend all the way down to $15.00 and that's where it probably should be. In all fairness. Book to bill, P/E, Book to value, past track record, etc., etc. It's gonna be tough to sustain $38.00 a share. The slow blood letting is gonna make me wince all the way to the bank. Sorry to the longs, but think of me as your friend. Sell now and by it back when it's been trashed, when the future is closer to now.
As shorts often say, "You can stick a fork in this one."
I just hate to read all the crying and wailing as other great SI'ers lose money on the elevator ride down. |
