Today's drop is as yet unexplained...
I've seen no news... so I placed a call to the CFO, Jeff Lavin.
Jeff still hasn't returned my call, but I spoke with his
assistant, Anita Gregory, and she assured me that he has
my name & phone number (along with many others). She
promised that Jeff is working his way through the list
of callers and will return my call ASAP.
Anita could offer no explanation for the drop today. Nor
could she confirm a rumor (from the Yahoo thread) that
Efficient Networks has transferred $50 M to ACTM in order
to get ACTM's help in obtaining scarce parts. [However,
I do know that some wireless communications companies
(such as DMIC) are having trouble obtaining parts and
I've heard that there's an industry-wide shortage of
certain critical components... like transceivers, flash
memory, and tantalum capacitors... so its a plausible
story. If ACTM received $50M, I'd like to know what
the terms were and how this will affect the company's
financials and share price.]
I've spoke to Jeff in the past ad he seemed like quite a
reasonable/likable fellow. I'm looking forward to his call
and his explanation for today's share price drop.
In the interim, he's a post by someone who I guess is a
real believer in ACTM (from the Yahoo thread):
>Either the brightest or the dumbest thing I have done but
>I bought 3k shares at 44 then 5k at each of 42 3/8, 42 1/4,
>41 1/16, 40, 38, 36, 35 and 33 for a total of 43,000 shares
>today. Some of these actually filled well below my bids
>because it was dropping so fast. Took real balls (or
>dumbness) to keep trying to catch the knife.
>
> If it closes around 39 today I am at least even for today's
>puchases. Fortunately I bought my other approximately 60,000
>shares mostly below $27. I'm pushing for a close above $40 a
>least.
>
> On the other hand, if this is some type of bear trap I cld
>make out like a bandit.
>
> If the market comes back, ACTM looks like it should come
>back too, barring real negative news.
Rob
PS) Latest rumors on the Yahoo thread are that ACTM borrowed
that $50M from EFNT but that this borrowing was never disclosed...
EFNT is said to have mentioned this during a recent
conference call. Not sure if any of this is true. |
