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This stock is killing me. I purchased a large amount of shares after last qt. earnings (9-9.5 per share) release. I figured with 50m in cash, sustained 30%+ growth rate in developing industry, and major corporate clients stock would take-off again (20's by summer). Having just made a very nice profit on Harbinger(HRBC) I jumped into PRMO thinking it would rebound while HRBC had got somewhat ahead of itself. Obviously, this was not a wise move but I still can't comprehend how this stock can be valued at such a low level $6 per share(65 million market cap) considering its cash holdings and potential, is this company worthless? Furthermore, compare premenos to harbinger's market cap of over 250 million with a similiar growth rate and only slightly higher revenue rates, pre-merger, but much lower cash and book values. Well, is there any hope with this stock? Can the take-over rumor, CA or IBM, be trusted? I doubt premenos is on anyone's list but you would think now would be the time. Unfortunatly, I have the feeling I'm holding a tax loss because this stock dosen't look like its going up anytime soon and I'm very tired of watching it drop but were "probably" at the bottom and it would be very painful to sell at this level. Any positive comments would be welcomed. |
