Now I'd hate to get off on a rant here, but I've had it up to my eyeballs with PWAV. This stock makes zero sense in this market. The company beats estimates significantly in January and then plummets on the "news" that Korea is having economic difficulty and orders could be canceled. Really, what a shock. I thought it was just a typo that it went from 49 to 14, then 9. Nah, couldn't be a typo, as the insiders sold near 49 last October, and then they did their fiddling for the next three months while this sucker burned. Yesterday was the final straw. SPCT issues an earnings warning and PWAV was down more than SPCT. This, of course, is preceded by contracts they issue with no dollar figures attached, and their big announcement during the conference week is about a 200 watt amplifier -- the sports equivalent of cutting a player from the practice squad. You really wowed the street with that bombshell. What's next, a release announcing that PWAV purchased a new copy machine and will free paper clips thrown into the deal.
My message to the clowns who run this pooch is: Let's get some
releases out pronto showing some new orders with large dollar figures, get the name of this dog in some of the financial journals, talk to
the analysts and explain to them that PWAV doesn't really suck this bad and they ought to initiate coverage. Create a buzz rather than causing the shareholders to drink toward one. In short, do something.
A company with this type of consistent earnings growth should have more backbone than your average Dunkin Donut. Of course, I don't see it happening as PWAV's management team inspires about as much confidence to shareholders like me as Barry Switzer did to Cowboy fans like me, which is to say zero. Then again, maybe Bozo the Coach is running Powerwave now that the Cowboys sent him packing. That would explain a lot. I wonder who wears the clown shoes to the office, Barry or PWAV's intrepid leader Bruce Edwards? The only thing more amazing than all this is the level of optimism on this message board about this prodigious Thanksgiving Day dinner candidate we call PWAV. Of course that is just my opinion, I could be wrong.
Jeff
turbittj@injersey.com |
