I sent the following email to Sharon Spehar at investor relations this morning:
Hi Sharon,
I am a daytrader for a living and watch SNDK on a Level II screen closely. An institution continues to offer stock all day on Instinet. Even on a day like yesterday, when most companies' stock prices were staging a comeback, the SNDK seller on Instinet was relentless. It has been this way for weeks, with the only pause a runup on earnings.
I am also a concerned shareholder that holds x,xxx shares. I am a long-term investor, having bought the first 1/3 of my position 18 months ago.
After your earnings conference call, I suggested a press release reiterating Eli's comments to the last questioner on the conference call. Something commenting on the state of your business and how SNDK is not likely to be adversely affected by an increase in flash capacity.
SST yesterday put out a press release which attempted to ameliorate concerns over their business. As a result, the stock price, which traded as low as 47 yesterday, rebounded to close near 60. You can see the press release at the following link.
biz.yahoo.com
Sandisk's business prospects are so unbelievably good. Your growth is phenomenal, but right now it is only a breeze compared to the tornado which is approaching. An excellent example one person's perception of just a tiny piece of your potential market can be seen here.
Message 14162259
Despite all of your patents, despite your exploding royalties, despite digital cameras just becoming mainstream, despite MP3 players hardly being heard of, despite Qualcomm's phone with an MMC slot not even being in production yet, despite Palm's announcement about designing a CF slot, the vast majority of Wall Street just doesn't seem to understand your Company. Only four analysts cover Sandisk.
It sure would be wonderful if you could help your shareholders and get the word out. Press releases such as SST's on a regular basis are likely to do wonders for the stock price.
Many thanks for your consideration.
Best regards,
Jay Dreifus |
