Agreed this stock is VERY cheap here. Damn, if I was Bausch & Lomb, I would be wanting this company here! Not to start a rumor or anything, but doesn't it make sense? I mean Ray-Ban is about 30 some percent of Huts sales. Why not buy out the middle-man?
Anyway, I am so pissed about things now. There is absolutely nothing to hold this stock up right now. We are almost a month away from June sales, and we have no CEO. We need the Board to hire someone really good and really fast. He can then outline his plan to the Street, and then maybe the stock can rally again. Who in their right mind is selling this stock at anything under 7? They are stupid, IMO.
If I had as much money in Cisco as I do in Hut, I'd be on vacation now:-)
By the way, the RSI is now down to 20-extremely oversold. We should see some kind of little bounce soon(hopefully, tomorrow). If you recently bought in to this stock, don't quit now! The company is on track to do $600M in sales this year, even with all the screw-ups going on. Once someone comes in and cleans house, this stock will come back strong. Maybe today was some sort of selling climax. We will see. Good luck to us all.
Steve
p.s I found the founder of Hut's phone number and called today. I thought it would be an office number but it sounded like his home answering machine. He stated he would be back on Monday. I am going to call him for some insight into this company. By the way, in 20 years of running the company, he NEVER had a losing quarter! I wish he could be our CEO! WIsh me luck in my call to him next week. |
