Tom, I have tried to bottom fish on financial scandal companies in the past. It's a losing proposition, based on my experience. Check out the history of "oxhp", "cd", "mck". It starts out with 1 announcement, and then another. Accountants/auditors have to redo the financial statements. Days, weeks, and then months pass by without any positive news.
A key public offical will be sacrificed. Lawsuits will begin. Wall Street will recommend to sell due to lack of confidence in management. Another bad news statement will occur, and the whole process starts over.
I couldn't sleep at night knowing that I owned such a company. For what it's worth, this has been my experience. Hard lesson learned. Nobody right now can say whether $30 or $5 is the right price for this stock. Growth rates are not known.
Good luck on whatever decision you make. Hopefully it turns out better for you then it did for me. I have learned to avoid these situations at all costs, and focus upon companies with positive news.
Just my opinion,
Respectfully, advalorem |
