Snake, I really, really want to believe you. Truly. I haven't sold a single share, I've held on for a very long time, and I would love nothing better than to wait another year and see MPRS at 6 or 8 or higher.
Unfortunately, I no longer see any new hope in your post. I've heard it before: Just wait another quarter or two, amazing games are on their way, just hang on a bit longer, the demos look fantastic, this time it's different...
("What A Difference A Year Makes" - Remember?) They should be forced to use that tag line on the next annual report cover as well!
I feel like the little old ladies in Vegas playing the slots - just one more nickel, just one more quarter, maybe we'll go home rich...
My problem is not so much the performance of the company, bad enough as it is. It's management's lack of forthright communication with the outside world.
The most glaring example was their "explanation" of the reasons for calling off the GTIS merger ("We all felt it wasn't the time"). That made my jaw drop to the floor. It was painfully obvious that the real reason was being concealed, and I will argue that a good part of the subsequent price drop was due to this evasiveness and the uncertainty and risk it created.
What I've learned from this experience (aside from not investing in such speculative situations) is this: Always tell the truth, and tell all of it. You're not pulling the wool over anyone's eyes. You're just creating more uncertainty and perception of risk, which is driving your stock price even lower than the bad performance alone would justify. (Might want to factor that into your models).
I'm hanging on, but I've abandoned all pretense of being an investor in this company. I am now a lowly speculator, riding the rollercoaster and looking for a soft spot to jump off. |
