The financials are not too bad, lot of stock out there and debt too, but a decent product and some top people. It seems that the money management is left over from the Atari days when you couldn't believe a word they said.
The amex will not delist JTS no matter how low it goes, as long as they can trade it they will. They love to trade this stock. (What is JTS's rank on the amex in terms of share volume? I think its in the top 20.)
I think JTS should be viewed in relation to ATC, that is the trading patterns may be similar. It is the same specialist who is handling the stock. In the past ATC has squeezed the longs without mercy, only to see it shoot to the moon. We may be in the same situation. The shorts have made their fortune and the short interest is down. When we see real volume, like 5 million, hang on.
Also, JTS trades convertible bonds on the amex, they are due in 02. Last price, was 50 and a coupon of 5 1/2% which is a yield of what, 15%? The important point is, what is the conversion price? This must have an effect on the movement of the stock price. Last week the bonds were down $5. What does this mean? How could we tell if people are swapping from bonds to stocks? When you see some big conversions, watch out above.
Just some thoughts, but I don't think we've seen the last of the Atari/JTS Roller coaster.
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