This stock makes absolutely no sense at all! I've always hated
those 'Can someone explain to me' questions, but Can someone explain to
me the madness behind this stock. Here is a stock that has dropped from
23 to 11 and change. Yea, I know old Barry 'the bomb' Carrington is
responsible for some of the slide, but this is getting ridiculous. I
would think everybody is wanted out would have been out. Is there a
bottom for this stock? Will we finally find support at $2/share (yes,
$2/share).
Here is a company that makes great products. Excellent sales,
accelerating earnings, just announced a new partnership to increase
capacity (or something like that - it doesn't really seem to matter), and
the stock just goes down and down and down and down. And on the other
hand, I can name stock after stock with shady to no earnings,
questionable products, in other words, companies with NO redemming
values, but I've never seen them wacked like this. I feel like everybody
is getting a piece of this action (on the downside). Personally, I
thought the bottom was at $15/share, then I figured today it would bounce
up in the $14 range. I was wrong. Now, I think $7/share is the next
support level. I ought to go ahead and take short position to help all
of you longs out.
I remember a post a while back talking about how we needed some
news. Well, we got it. Didn't help though. I still can't let go of
this stock though (I should have bought some puts on it though - would
have been cheap insurance). I still believe in the company, but I may
have to put this in the category of stocks I plan to hold 3 years or
more. I wonder what is in store for the company.
Another thing that irritates me is their home page. Don't they
ever update that thing? If memory serves me right Mr. Carrington (I
don't like him very much right now) is no longer the CEO. Am I right on
this one? The company management pages hasn't been updated since early
January. The press release I got this morning off of Business Wire,
wasn't there this morning either. Oh well, let me go. I didn't mean to
ramble on and on, but I'm not a happy investor right now. One thing good
can come out of us being long. At least the stock can only drop a
maximum of another 11 7/8 points. After that, it can't go any lower so
it can't go any lower (in points) than it already has.
By the way, does anyone know where I can find short interest on
this stock? I use Prodigy that the information over there is a month
old.
Hope everybody has a good day. No more Mylanta for me, it's
time for the hard stuff now (Run and Coke and then more Rum) Good thing
I got some KO stock. It does well in good times and bad!
Curtis |
