The answer is yes, I have continued to short and have more than doubled my positition. For the record, I have never seen a better short. Count and Joe get all excited when this stock moves 3 to 5 points, given the thin trading in the stock,3 to 5 points down, doesnt give any more pleasure, than 5 points up, these are "normal swings in this stock. What does excite me as a short, is the onset of major competition in all aspects of the plate market long and short. Though Prst has good products, they are limited to short run, the smallest segment of the plate market. Now Joe will jump in and yell that I am incorrect, but the bulk of the plate market per Seybold and Common sense is long run, e.g. newspapers, magazines, catalogues, coupons etc. The short run DI market is shrinking from below by Xeikon, Docutex, IBM etc.,and from above, by medium run presses as they become more competitive in shorter runs.
Again, I doubt PRst will ever see 200mm in sales. And Neil, your answer as to immediate availabity was garbage (financing, setup, etc.)
The answer is, per Hdlbrg, we can install the press virtuall tomorrow, and we are now inventoriing presses. Without a boom in sales, at the present rate of sales (60 mo) vs Prst kits (80 month), Hdlbrg should should have over 150 kits in inventory at year end, look for a major reduction in sales and royalties from Hdlbrg.
I like this investment. |
