Whazzz Up??!!!
This week has been an active one for CGEN, and there have been no comments here for 2 weeks!
Stock hit $13 3/4 in intraday trading the other day, on heavy volume. It has dropped below my buying target of $15, and has had recent news regarding management. We have now completed the "out with the old, and in with the new" phase of management turmoil and can look forward to, indeed demand, increased growth in revenues and reigning in of costs not associated with sales!
New team has lots to prove, as witnessed by this weeks moves in the stock. I think we may have to go through the "out with the old, in with the new" scenario again as we dump some old investors that bought on with Howard P.. years ago, and hopefully get some new, more demanding, investors that can put pressure on management to perform!!!
At the close today, the stock was up 4% to $14 3/4...I think I'll start to nibble a bit, but will wait till the double bounce to pick up the majority of my new position at $12. Yes, I said $12...we might even get lucky and catch Mr. Market snoozing and steal it at $10!!! Remember that book value is about $12.94 per share.
Is there something that I've missed...the fundamentals seem to be the same, while the future seems to have brightened with an injection of new blood! This skettishness seems to be yet another classic buying opportunity that probably won't last too long.
All comments welcome!
$weet Dream$
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