Besides having a lot of faith in their NEW management, I also believe they have excellent products and market position. Recent restructuring, stock buy-back, cost cutting etc. will be providing a lot more to the bottom line in the coming quarters. That is why I am long.
Regarding them repeating the history, I want them to repeat it. Five out of last six years, yearly high for the stock has been over 20 dollars. I want that repeated and I am hopeful that it will. My average cost is little over 14 so I am sitting on 25% profit as we speak. And as posted earlier, I am not going to consider any sells until it goes to 20+. AT that time I may consider locking in some profits. But until then I will be watching it very closely.
Regarding your post about engineering move, I would like to read the actual article and after reading if I find it as terrible as you make it to be, I will be calling their IR to find out what its all about. So could you post the article or a link to it? I feel sorry for those who will be let go as I have been in the position myself and that too in even harder times. However, it looks like the investors may read into it differently as they apear to be trying to save money and help the bottomline. I don't mean it is right but then why does anyone buy Philip Morris stock?
Anyways, Good luck with your short position. As always, all opinions are welcome
Regards,
JK (Long on Telxon) |
