Let me boil down your points:
1) COMS sucks because COMS sucks
2) COMS stock is between $20 and $30 therefore it cannot move outside this range unless the company is bought.
Hmmm. Sound like circular arguments to me. Even you can do better than that.
Kyros, I've brought up the fact that EB has presided over massive growth in the stock price, but the only history the naysayers are interested in is recent history (so anything before January 1997 doesn't count).
You'll probably get the "3COM did well in spite of EB" argument from someone. Of course this then ignores the issue of why 3COM won't plow on despite him.
And WS can bite me. Most are short-termers who aren't buying because they either don't expect much movement in the short-term, are too scared, or simply can't see that 1+1+1 can't possibly equal 1.
To me this is a clear case of a company misvalued. Time will correct this imbalance. Maybe on EB's watch, maybe not. I don't care which, and of course the sooner the better, but it will happen.
Also, I still say a $32 buyout is a complete joke.
Another thing: I'm no financial expert, but if 3COM hadn't reigned in inventory, wouldn't earnings have been considerably higher over the past couple of years? And hasn't the process also freed up a ton of cash - exceeding earnings themselves? Can people good at reading financial statements comment here?
I've said it before, and I'll say it again. This is a case where the King (ok, Prince) is dressed but everyone thinks he's naked.
Andre |
