Liquidity?
I told my wife $9 in September '09, ha, why not.
But I don't think we will see any 1999 style melt up.
However, in the short term, we are not certain that
anybody has any serious plans for the company. Watch
and wait. It could just as easily go back down the 20%
it gained in the past few weeks. The future is totally
unknown. But I like a cheap stock and will hold it
awhile--though I doubt til 2009. They probably have a
good year of cash on hand and genomics and CRO stuff
shouldn't compete now, they can put everything into DR,
or "reprofiling" or whatever it is that they claim to be
able to do.
Still, we will see what they put in the quarterly report.
And then of course there is the reading of the poker
face. Does an empty quarterly report devoid of any
details perhaps bode well--does a glitzy annual report
boasting of glgc's vast biotech capability show weakness?
It isn't an easy business and there seems to be a
tendency for hot shots to go off and simply start from
scratch. If some of the talent in the DR unit just got
up and left (note Tartaglia is on the BOD of another
similar company, I pointed to that awhile ago) we would
be screwed I think. I am not sure that glgc is drowning
in talent or great minds from the business world that can
put the company on a path where they might actually turn
a proft. They may salvage a drug, and that would I think
give it a more respectable marketcap, some small multiple
of book.
I suppose GLGC has plenty of great minds, you wont find
too many mushy minded slackers like myself in biotechnology.
But it does seem to take something extra above and beyond
a gaggle of PhDs to turn a profit in biotech.
Down here at $50 or $60M--that is a speck, a biomote.
If they do just one good thing (I am not asking for
the next Viagra, maybe they salvage something quite minor
but that actually pulls in some revenue, gasp!) I rant.
In the end, we know nothing and are helpless to merely
watch. If I lose money on the shares so be it, but while
it is trending up, we can hope. |
