I'm too lazy to re-type my post to the ATC Communications boardon 8/1, so I cut and pasted it instead.
This stock American Bingo & Gaming NASDAQ: (BNGO) was up 13/16/today to close at 5 7/8 on volume of 113,000 shares. Here is the company's home page URL.
ambingo.com
This one may not be beaten down, but it just might be a gem.
Subject: ATC Communications ATCT
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To: Doug Guthrie (1741 )
From: gashhtfd Aug 1 1997 8:31PM EST
Reply #1742 of 1760
Unless you are a glutton for punishment, there surely must be a better place to put your hard-earned $$ than ATC " Communications?". After loosing money on this stock on 4 different occasions, (although only a very small portion of my total portfolio), investors have to realize your money is missing greater opportunities in this the greatest bull market we will ever see in our lifetimes. If ATCT cannot perform in a great bull market, one can only wonder at its performance when the market eventually sours.
I am proposing a portfolio switch (touting), but I really mean it. I have been in the shoes of ATCT shareholders 4 times in the past. Here comes the touting part -- American Bingo and Gaming (NASDAQ: BNGO closed today at 5 1/16 and appears to have a MUCH brighter future than ATCT. Their is an active board here on SI under Casinos & Gaming, the prices of the two issues are close together, - heck their Chief Financial Officer is a regular participant on the SI board - and you can't get any better 'communications" than that. It does look like a fairly good businessmans's (woman's) risk at these levels.
Here comes the recommendation - Sell ATCT "Communications" , but keep 100 shares in a very long-term account (3-7 years). Of the balance you receive, take 10-20 % and go have a good time! While having that good time remember the lessons that this stock taught you - and learn from them. Take the remaining money and buy at least 100 shares of BNGO. The rest of the money you can do with as you see fit. Just think that those tax losses you most likely will incur upon the sale of ATCT "Communications" MIGHT (it varies from case to case), increase your tax refund next April or at least reduce your tax bill.
I mean the above in all sincerity. There are such things as SWITCHES in investing, and as investors we should consider other options than just selling and buying.
Good luck to all, and do your own due diligence,
Gary |
