This stock has been a real home run. We have had three runs from the low teens to above $30. I am usually a seller in the mid thirties as the story was still in formation (name change, roll-up, insurance deals, positioning, new symbol, SEC filings, etc.). With the Insurdata deal locked up, lots of money in the bank and the company structure and name finally lined up with its core business, analysts will be coming on board. A big chunk of the float has been put away, only two small firms are covering the stock. Find me another company with $50 million, a leading position in a $200 billion market, a great institutional investor base and a biz model to die for (no pun inteneded, they don't sell life insurance - YET).
If a Robbie Stevens, DLJ, Lehman, DB Alex Brown or Morgan were to come out with a buy on the stock. Watch out. The float is not there for the kind of buyers these firms will attract. You would have to drive the stock well through $40 to build a million share position, which is chump change to the vast majority or the tech funds out there. We shall see. Good luck. |
