Doc, again, I largely agree... (we must be two years talking here now...)
The market wasÿthe thing last week, but DRIV had been sagging badly for weeks before. My own take earlier was that the market wanted a sexier story than software downloading and "back office stuff" such as the ebusiness division. Or, it wanted proof of the viability of the second division, given the $20 million committed recently, and wasn't about to wait around when there were few announcements of new customers for its services. That was the hooker for me, no major announcements, apart Coors and one or two others, this past quarter. We'll see soon enough, April 27, and if the separately reported results for the two divisions pass muster, the stock should move up nicely, given a decent overall market. If the market itself is tanking....Katie, unbar the door!!!
If, back before the IPO, whilst gobbling up TSQD as a proxy, I had thought I would be sitting on a pile of DRIV stock in April 2000 at $20, I would have cashed in the lot. But, oddly enough, having just gone through my first margin call in 25 years (because I bought too much of the stuff lately), I've been scrambling in non-margined accounts to buy enough to maintain my former position, whilst selling the margined stuff. Madness, I'm sure, but the cause is attractive.
Ronning is as perplexed and, probably, p....ssed off, as the rest of us, re the stock price. He continues to do the right things, even finally hiring an IR v.p., though late in the effort. There is a major ebusiness deal afoot, and we should hear an announcement this month. It, by itself, will not save our chestnuts, but should indicate where this thing is going. More will follow. A great friend of mine, who was shot down over Germany at age 20 in WW2 piloting at B-17, was a long-time institutional investor, and now runs his own shop. He thinks Ronning has one of the best business models on the internet. He was buying nice chunks last week, and plans to buy more. If men like him are still placing their own bets, why should I hesitate?
Cheers,
David |
