Girl-
One would hope that all the news is out by now. I think it likely that's the case. what's unknown is WHEN the seismic sales will increase.
PGO has speculated (wrongly) a few times, already. As a result, of that and other missteps, I have little confidence in their view of things and am mindful that bad management STAYS bad until cleaned out.
I grant that the cycle has not been kind to them but how they managed themselves and the continued good money after bad investment in the library leaves me questioning their foresight.
Having said that, if you (and I) were to convince yourself that it was appropriate to take a position, I would question why you would be inclined to cut and run if you got 2-5 points? Is it your intent to merely trade PGO or to invest in it?
If PGO succeeds, it will be a high-teens stock again. If it doesn't, low single digits is in the cards. So, I'm suggesting that once in, if you see that nothing changed for the worse, hang tough and make ALL the money not just the first 15-20%. After all, that which gets it to 10-12 will likely also get it to $18.
I will admit to being a fence sitter on this one but that's the way I get once I sense mgmt problems. Maybe the APIs will move it higher tomorrow but, clearly there was more than the usual amount of money heading for the exits today. |
