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Biotech / Medical : GUMM - Eliminate the Common Cold
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To: Mad2 who wrote (4029)12/3/2001 10:13:00 PM
From: DanZ  Read Replies (1) of 5582
 
Gee, mad2. I asked you why you think GUMM is overvalued today and you gave me a link to a thread that you started Sep 18, 1999. The price of GUMM that day was about 12.50, and the stock traded as high as 36 about five months later. Is the stock overvalued no matter what the price or no matter what happens fundamentally? Gum Tech sold their gum manufacturing business a few months ago. Did you already have that factored in way back in Sep 1999, almost two years before it occurred? You can't value Gum Tech based on what they paid for the other 40% of Gel Tech for a variety of reasons, not the least of which is they might have bought it for far less than it is worth. Sometimes investors perceive that a company paid too much for a business and the stock price goes down after they announce the purchase. Obviously the market thinks Gel Tech is worth more than Gum Tech paid for it or the stock would have gone down after they announced the purchase. As I said before, this ignores the value that the market is putting on the nicotine assets, potential royalties from Wrigley, and whatever else they are working on. You make yourself look foolish when you claim that a company is overvalued when it is trading at two times cash, has no debt, and interest on cash covers their overhead expense. I guess every stock trading on the face of the planet is overvalued according to you.
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