Did we read the same article? I'm saying just what the article said. There is a board of cronies, each of whom has been well rewarded in pre-IPO stock, for dubious contributions. There certainly isn't an independent board.
I have no position in C3, and never had, although I considered buying when it was near its half IPO level. I think the business plan sounds OK, but more importantly, the stock sounds like it could be a momentum stock someday soon, once they have some sales and some hype. If in the meantime it reaches an attractive level, I will probably invest. However in my opinion, learning about the shenigans behind the scenes through this article mostly offsets my good opinion of Hunter's record with Cree. My buy level is lower than it used to be, and I won't be too disappointed if my buy level is never reached, since there are companies with sales today, independent boards, and less cronyism out there competing for my money. |
