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Strategies & Market Trends : Low Price/Cash Ratio Value Stocks
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To: MCsweet who wrote (1492)11/15/2011 1:14:18 PM
From: Jurgis Bekepuris  Read Replies (1) of 1931
 
MCsweet,

I know some stuff about computers and games, but I am not an expert on all the GRVY games being run in Korea/Japan/Russia/etc. :)

I liked GRVY latest quarter a lot, since the numbers improved even without Rag2 release. I had an opinion that the company is not going to do well if it can't release Rag2, but now it seems that it can muddle through even if Rag2 is not released or flops.

Rag2 another limited testing is starting tomorrow: news.mmosite.com I don't expect much from it, mostly yet another delay in release. It's tough to guess whether to add stock now or to wait for some disappointing press. Obviously if the press is great (not very likely) and a firm release date is set (unlikely), the stock could soar on the news. I am not sure how much it can fall if news are bad.

I don't trust management to take "no brainer" actions to help shareholders

GRVY is already a sub. There is a majority shareholder and they drive the show. So we won't get external buyout, though we may get majority-shareholder-buying-up-the-rest. It's unlikely we are going to get dividend or share buyback. I am somewhat surprised that majority shareholder has not bought the rest of GRVY yet, but perhaps there are some barriers that I am not aware of.

There is a risk of a take-under if news are getting better but stock does not move. E.g. majority shareholder may be able to push through a takeunder at ~$1.7 right now, which still would be a loss for a lot of shareholders.

Disclosure: I have a medium-large position in GRVY.
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