I agree that "lgto" is being sold off in a major way. I believe, however, that no one can predict if it oversold or undersold at this point. Accounting fraud prevents any kind of accurate analysis of the company. Investors purchasing this company's stock are buying on hope only. One has to have confidence in some type of revenues/growth projections - which obviously doesn't exist right now. Any analyst recommendation, any forecast for revenue growth, or any past growth history is out the window right now.
There are no facts to make a purchase on. If they have found $7 million already, is there another $10 million coming up? Will past years financial statements be restated? Where does it end? The cockroach theory states that, once you've seen one cockroach, there are 10 more hiding that you don't see.
I'm hope I'm wrong, because I have closely followed this company. I respect Kevin Landis greatly, who is long this stock in his firsthand funds.
Please provide what reassurance or faith you are basing your new purchases on?
Just my opinion,
Respectfully, advalorem
(I sincerely hope this is just a tyco situation, where the accusations are overblown. I hate to see anyone take a loss in this magnitude.) |
