<<I looked into buying IARC for just the purpose you describe (I too buy stocks/sell calls for monthly CC income), but the chart makes me averse to buying in at this point - not enough near term stability.
What do you think of this point, and how recently did you get in?
Thanks,
Jeff Smith >>
Jeff,
To be quite frank, I have followed this company for quite some time. They are located here in my hometown ( Charlotte). They used to be Alydaar, and specialized in ...well, they specialized in solving the Y2Kbug. To make a long story short, the CFO was doing some not so nice things with the numbers, and the company got nailed. Stock price plumetted to $3.Anyway, it's a different day.....New name, new business. Stock got as low as .68. Yes, it is risky, but I tell you, they have got some good things cookin in the oven with some big name clients. There was talk/rumors of a buyout offer from VIGN in the $40- $50 range ( this ocurred when IARC was at about $15 - $17 ), but BG ( CEO ) supposedly nixed it as he feels they will be far higher then $50 without their help. Talk on the street was a target of $80...but mind you, words and talk mean nothing.
I have a nice position...all free and clear since I was in at $2.00, bought all the way down to .68, then sold some up to $10, and now will hold the rest for the long haul, as things look very promising for the company.
Anyway, always do your DD....and good luck
KG |
