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Dear Tom--I had a look at some PRST threads this morning, and rumor
has it, apparently, that Cabot employees are (or now perhaps were)
holding large amounts of the stock. Maybe true, maybe not, maybe
ethically dicey, maybe not. But the perception--and in terms of short
term market movement that's what counts--is that the whole Cabot-PRST
relationship is unusual and perhaps worthy of investigation. Nowadays
IOMG makes the news a lot, unfortunately more often than not in the
company of PRST, Diana, OCCF, IDID and the like. Not the same kind
of company at all, of course, but the continuing portrayal of it as
a kind of mindless momentum stock has taken its toll. And now we have
the PRST debacle. As we've seen, one contributor so far today asks
whether IOMG should be considered in the same light. In my view, yes,
Cabot's pronouncements should be viewed with suspicion, and yes, poor
IOMG's been done damage. Buyers will probably be cautious in the near
term. What we need are a couple of stunning announcements, though on
the other hand the management might do well to wait till the PRST
hoopla dies down a bit. |
