Jack,
Lutts clearly believes his nose is clean. He is not worried. He clearly believes, as do the PRST officers, that they have done nothing wrong. So, what this amounts to, is who do you believe? WSJ? Forbes? Or Lutts and the PRST execs? If you believe, as I do, that the truth will be revealed in the fullness of time, and you have observed, as I have, that WSJ and Forbes are staffed by liars and craven toadeys to big money interests, then you expect the SEC investigation to go away. Also, the earnings reports, as I said, are expected to look good.
As to a son who watches his mom’s net worth evaporate: Granted, I felt sick during that plunge. But, as my mother’s broker kept shouting as the stock bounced back, "Only the strong survive!" How many of the first investors in Xerox did not get scared out by its violent corrections? Not many. This is a great technology stock on fundamentals. It is a real product, shipping now, with nonexistent competition.
You say recent trends suggest PRST isn’t coming back. But in fact this widely aired SEC nonsense is already incorporated into the stock’s market price, and when that goes away, WATCH OUT. Even without the cloud being as yet fully dispelled, the stock closed at its high for the day on Friday, so what recent trends are you talking about? They sure don’t have anything to do with Presstek.
--Jason |
