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It could go either way. On the basis of fundamentals, other than earnings which have yet to be reported for the 2nd qtr., the bad news is out there. The fact that the stock is behind the industry, using cash for development, unresponsive to investors (according to some - not me), doesn't have a definite customer for it's 2.8 MR Heads, if they ever are developed may not be profitable, I could go on. Bottom line, it's out there. The stock seems to want to go up in spite of all of this. APM has been through this before, and I believe they'll weather this storm. If they receive a buy out offer, it will be too late to buy. If they announce successful development and testing results, it will be too late to buy. If they announce a loss of .75/share vs. 1.01/share - too late to buy. If they do anything right, AND the market reacts, too late to buy. The brokers (lemmings) will see it as an opportunity to put it on their recommended lists again. Downside - 5.00 - 7.50/share. Upside: 15.00 - 22.00/share. I'll give management the benefit of the doubt and continue to hold. |
