I've largely bailed out, Lalit. Consolidations lower the price, that's just the way it is. Whether it is in the long-term interest of the shareholders is irrelevant to me, I can trade very quickly and cheaply in these days of web trading and discount brokers.
I did talk to the company, a Tom Purcell (I think), about a week ago. They are indeed considering a roll-back, and plan to present it to the shareholders. 1 for 10, if I remember correctly. So assuming a hit of 40%, I plan to put in orders for .22, but not much as it could dip lower. Still holding a few with a full-price broker, can't afford to trade them.
It's a good company, well-run for the most part, imho. Too bad they can't resist playing with the paper, they could make it to 5 bucks the straight and honest way with some applied common sense. This way is cheating, a short cut, and the market will recognize it as such, imho.
Good luck, marcos. |
