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Strategies & Market Trends : Investing for the January Effect 2000
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To: Mad2 who wrote (32)12/24/1999 1:35:00 PM
From: Q.  Read Replies (2) of 109
 
M2, among your other stocks, NMGC is the one with the biggest concentration of ownership in small hands.

I see also that it has a hugely active board on Yahoo, with >16k posts. Which is a sign of intense interest by small investors.

Looks like it is still profitable, but suffering from a plateau in revenues and a decline in gross margins. I suppose that's why the stock tanked in the first half of this year.

Balance sheet looks super. No debt, and lots of cash: $3.50 per share, as compared to a stock price of 11, and positive cash flow.

Here's the company's explanation for the declining GM:

Gross margin percentages decreased to 31.4% for the nine months ended October 31, 1999
from 41.3% in the nine months ended October 31, 1998. The decrease in gross
margin percentage was due primarily to higher unit costs, including premiums
paid to certain of the Company's foundries to obtain incremental production
capacity. Also affecting gross margin was a decrease in the dollar/yen exchange
rate and declines in unit average selling prices stemming from the market trend
toward lower priced notebooks and increased competition.

Does anybody know what the story is with competition for NMGC? I see in the filings that they are a fabless chip maker, with all its sales coming from graphics accelerators for PCs, but I don't follow that sector. All I know is that my Dell Latitude notebook computer has one of their chips.
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