>>>We must be fair and I agree with you. Comparing a proven stock like CMGI to EDIG shows a terrible misunderstanding. CMGI has a proven product, but investors bid the company up too high and it got ahead of itself. Same for a wonderful company like DELL.<<<
Yes, we must be fair. But it really isn't a matter of comparing EDIG to CMGI or Motorola or any of the others, is it? After all, pretty much most tech stocks are down as steeply as EDIG has gone down. Check the charts, it's rampant. That's what the Tech Meltdown did.
But what of EDIG? Well, I think we can come to agreement that EDIG's January run to 24 came too quickly. But was this an investor only-generated run, or was it a market maker-induced run? Given the history of OTC level stocks and the fact that the latter makes money moving down, as well as moving upward, I'd say the culprit for the run rests on the market making end, not the genuine investor end.
I imagine as much as I was loaded with cheap shares, the market makers were considerably more loaded than I. Yes, the MM's had to have made a bundle off of EDIG, as did those of us [I sold presuming there'd be a stall while Nasdaq was pending==glad I did] who prudently sold above the 15 mark. [NOTE: I've since reestablished my EDIG positions at approximately the four and five-dollar marks.]
So, meanwhile, what we have is pretty much a quick-start false run which inherently gets followed by heavy shorting. 'Tis a fact of life in the market. So on the heels of this heavy shorting action comes the Tech Meltdown.
Thus, the only sensible reigning question becomes: How could EDIG's share price NOT collapse? And the conclusion being there were deficiencies both with the trading action and the general market; not with the company's technology.
>>>EDIG does not have a proven product and fools rushed into the gambling hall and bid the stock up.<<<
I don't think any of the voice/music/video products are yet "proven products." Are they? If so, which ones? Heck, sometimes calling in for a voice quote to Schwab can take five or six repeats before the voice recognition system gets the name right. Are not such products still in an infant phase of development? Indeed, they are.
Over the years I've backed up my musician culture by making money doing transcription work. Guess what, Carl? Ttranscriptionists are still getting hired to transcribe business forums, medical and legal data and they remain helpful in academia, particularly with grant writing. Incidentally, as a transcriptionist, I recall the Norris products. Sure, they weren't Sony products. But, still, the Norris name was credible.
Now, Woody Norris, as I understand him based on third-party knowledge, is like an eccentric inventor. And his inventions have been described as "brilliant." I submit that characters like Woody rarely have proven business experience, especially when it comes to taking a company public. That his past inventions spawned companies which didn't or haven't yet succeeded is therefore not surprising.
However, it appears that lots of extra organization has gone into EDIG since it became reengineered out of Norris Communications. Do you personally know Mr. Falk or Mr. Putnam? Given your San Diego residential base, have you ever consulted with former Intel tech-head Skip Matthews who now sits on EDIG's board?
Are you inherently opposed to EDIG because Woody Norris had multiple inventions? Were you ever involved in any of his past projects?
>>>This stock is dead and people are bailing out. Check MoneyCentral realtime chart. One of the last 6 min groupings of sales show 157k EDIG shares traded.<<<
"Bailing out?" I read the buys and sells near daily. And there's lots and lots of folks buying. Carl, how can ANY stock which has a Nasdaq application pending be considered "dead?" Such a proclamation can only come from a prejudiced mindset, which I think is a source too much from where you write. |
