Don, Actually, I think that MWY just has too huge an overhang of shares for sale from the WMS spinoff and that is hurting prices. But I do believe it is overdone. After all, not everyone is going to sell. Heck, some of us bought WMS in the first place because of Midway. Soemtimes my analysis gets a bit warped, but MWY is selling at half the price of Micron Tech, and it has eps and a growth rate and free cash flow. Wow, what a concept, a company that is actually worth something. <G>
I think the stock is cheap and very cheap relative to its chief competitor, Electronic Arts. This is not the best of seasons for game cos, Christmas is the big kahuna, so I wouldn't bet the ranch right now, but I still want to be in this fine co. Every time I take my tour of the video arcades, at least a third and often a half of the games are Midway. That has to help home sales. BTW, I hate to tour the video arcades as everyone thinks a man my age is some kind of pervert looking for little kids. <G> When I'd much rather tour the lap-dancing emporiums.
MB |
