Richard -
I have given up trying to predict this short term. The market is pretty crazy now, both generally and specific to Ashton - I think it is overreacting in a negative way, just as it previously overreacted in a positive way, and is very bearish overall, particularly in this sector (trading stocks). That being said, I continue to be very optimistic about the future of Ashton, and think that this will reverse itself completely fairly soon. Exactly when, well that is a different question that is difficult if not impossible to answer.
I agree that by January 2000, ATG's stock will be very strong as eVWAP is fully rolled out. I personally think other good things will manifest themselves in October - December that may help the stock price before then (China, Canada, NMS listing, higher eVWAP volumes in the second and third phases starting in 2-3 weeks and growing progressively, announcements of other alliances to go with Sungard, Belzburg, MacGregor, particularly with the "aggregators" mentioned at the annual meeting, eOX, etc.).
I do think Doc and AG are clueless about ATG's true financial condition and long term business prospects, and have done minimal or no diligence in that regard, even though their short position has been successful in the past month or two. But to predict where, when and why it will reverse, and to what extent, well, I don't think I can help you there.
Good luck!
Mark |
