Holy crap- TASR just exposed itself as the most fraudulent NASDAQ company since bre-X: (hint, just because your company has a real product doesn't mean that your stock can't be a fraud)
you have GOT to read this article. apparently TASR got slammed by the wall street journal AND barron's over the weekend- and TASR execs freaked out so much they had THIS gigantic press release issued. Not only is the english not even close to grammatically correct, it reads like a jilted love letter from a 14 year old spiteful girl.
I have literally NEVER read something so unprofessional in my entire life. This reminds me of all the fake bluster and bullshit you would hear back in the late 90's when someone would start calling a particular dot.com stock a scam on the messageboards and then a few companies would bite and try to sue anonymous Yahoo members- and then their companies WOULD go bankrupt as predicted. History lesson, anyone? BTW- I love at the end of this article where they rationalize all the insider dumping reported in the WSJ- the argument is "if you just got stinking rich on paper like we all did, wouldn't you fuck your shareholders too?" I also love their wording regarding Sprott Asset- they make it sound like they only sold 10.8% of their stake, when in fact they sold 100% of their shares of Sprott which amounted to 10.8% of TASR. Funny that their largest single shareholder sold every last share of TASR just a week before the price collapsed by 50%.. But don't worry, be happy! We've still got some options to vest so keep the music going!! ROFL
biz.yahoo.com
Finally, you point to share sales by insiders and institutions as reason for panic. Sprott Asset management did, indeed, recently sell their 10.8% stake in TASER. They did so after achieving an almost 10x return on their investment in less than a year. Incidentally, a new institution, Citadel, purchased a 7% stake in TASER since Sprott's departure.
Further, you point to insiders "unloading" in the past nine months. Our response is straight-forward on this issue. We have invested our efforts and our own personal money in this company over the past decade. We were not financed by any outside source during the first 7 years when all the high-risk capital was provided by the Smith family and Bruce Culver (a director). Insiders have made and held these investments over the past 11 years and we have been selling incrementally since the company went public. Even now, the majority of insiders hold the significant majority of their personal portfolios in TASER. How many investments have you held for 11 years Ms. Bremmer? Does any one stock make up over 50% of your portfolio? As a "financial analyst" would you recommend that people like my 66 year-old father continue to hold a largely single position portfolio? (Hint: check out the advice of Barron's Guide to Making Investment Decisions before you answer) Is it possible that insiders at TASER are following a reasonable investment strategy by diversifying their portfolio rather than the doomsday scenario you paint? |
