What??? I did not change my view at all about what it is worth. (Correction, I raised my previously posted valuation because of the latest announcement.) But what it is worth and what it sells for are two different things. In my last post, I think I figured out why it is acting the way it is, and likely to go lower, independent of whatever it is worth. There are too many shares held by speculators who were waiting for a huge move on VOD news who do not have the brains to figure out that they could POSSIBLY make a quarter for the fiscal year starting 7/1/98, with a significant VOD component, and sell temporarily at (an overpriced) $7.
As I said before, an investment of this quality deserves only a small percent of your equity, and I have all I intend to buy, at 1 3/4 -
unless the quality improves via material developments. As Steve suggests, a material development would be the announcement of a signed OnCommand contract, with CCUR getting a material part of that business, with installations starting immediately. (Any contact with the company should have as an objective finding out if that is what we should expect when a deal is completed - although I am inclined to think so from Corky's projection of having Q4 VOD revenue.) |
