Morgan,
For what it's worth, I'm quite bullish on NITE long term and, if it drops a few more points, would look at that as an opportunity to buy more.
Over time, given various positives listed below, I think that this stock just has to increase in price:
1. Increasing NASD and OTC volumes. NITE already is planning for substantially greater volume. That translates into greater revenues.
2. The trailing PE may be 80, but the forward PE is 40 or less. With another year of improved revenues and earnings, I just don't see this stock trading at a trailing PE of something less than 40.
3. NITE is just now moving into international markets, with additional volumes there that will flow down to the bottom line.
NITE, in my opinion, is a money making machine. One that appears well managed on top of everything else. I'm willing to hold it over time. Eighteen months from now, it will be interesting to see what it is worth. In fact, I look at the opportunity with NITE to be equivalent to (indeed better) than the lost opportunity I had with AMZN (I should have bought AMZN at a split adjusted 13, but missed the boat).
Gary Korn
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