Yes I can, but you may not believe it. <g>
<I challenge you to provide one example of an acquisition, where this management has not cut its value at least by half of the purchase price. You can't do it.>
I don't dispute that management has cut its' (managements or ATHM) value in your eyes. I don't dispute that the stock price may have been cut in half after one or more events that you disagree with. Your being unhappy for some reason is just your opinion. I don't care if 99 people out of 100 agrees with you and I am the only one who doesn't. <g> All of that does not prove any fact other than the stock price went down. The fact that the price went down, proved nothing else. It does not prove that management is incompetent. It should be clear to all but day traders that a short term approach is NOT the best choice for company management to take. Unfortunately this simple concept does not seem to be clear to many people. They want instant reward. They expect short term results. It may be a sign of good management when they ignore such short sighted people.
It may be hard for some people to accept, but "value" is not just determined by momentum (the thundering herd) or the current stock price. I have been involved in plenty of momentum stocks but I feel more comfortable investing in true value. I was selling some high priced stocks months ago and buying out of favor stocks such as REITS. I was buying REITS when the clowns and a half had them on the avoid list. I recognized that the true value of the real estate held by certain REITS was (and is still) worth far more than the market cap as determined by the stock price. In general, the low stock price of REITS had little to do with the value of the companies, their holdings or management. The REITS were just out of favor. People continued to sell them to buy questionable value momo stocks.
As you may know, REIT stocks have been coming back into favor recently. IMO, ATHM while much different than a REIT is still a value stock. It is the best of both worlds a value, growth stock. The reasons for this have been discussed on this board from the start.
IMO, a person is unhappy with a company he should sell the stock and consider going short. If a person is long the stock that person should like to see the stock price rise. I fail to see what a "long" accomplishes for his investment by contributing to the pool of negative propaganda already out there in cyberspace. It does no good to cry about spilled milk even if you were correct that the milk was spilled. Do not hold the stock if you think management is no good, sell and consider going short. You will be joining plenty of others who think as you do. It is a fact that the short sellers will have to buy to cover one day, this will help longs (me) in the end. Meanwhile, if ATHMs' price goes lower, longs will have the opportunity to pick up more shares on sale.
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