This will be my only post here since, like most of you, I view COPY with as much disdain as the rest. Mine goes back to 1993 when we actually attended a shareholders meeting. We laughed our heads off when we realized they had nothing. nothing has changed over the last 5 years except 2 really good trades and 1 bad trade once we learned the pump and dump rationale of the "bad guys". For 13 years they have had nothing much of any consequence.
However, going forward to today and briefly stating my distaste for this company, I want to share some information for those still waiting for a ray of sunshine. Well, here is the ray. I actually know of one company that bought one of the Copytele systems for over $3K and it works well IF there is another system somewhere else to receive. That is all there is for the ray of sunshine. BUT, and I do mean BUT, I have received no less than 3 phone calls today from boiler room type investment firms touting COPY as a major play for the next 4-8 weeks.
All of them claim to have started accumulating shares at $3 even and that it would be best to jump aboard this train fast, before you miss the run up. Well, 9/32 is not a great deal but the stock was at $3 not too long ago. AND it is now around $3.75 with unusual volume.
With the volume, the June annual meeting, the real weird and heavy June Options Open Interest at 5 (no interest at all for the other 3 options periods), the Whisper earnings number of $0.15-0.18 promted by the boiler room guys, Internet newsletter spamming, and prior knowledge of this company, all I can say is beware and BEWARE. This has all the makings of another round of pump and dump with the last ones left holding the bag.
You can very easily check my credentials and I am not about to tell anyone to buy this stock. However, I do expect a pump and dump so if you wanted to make a small play at today's prices and bail at about $5 you might have a winner here. If you have been holding onto to some shares and are looking for an appropriate time to exit this stock you might catch $5 or better but $4.75-$5 might be the appropriate spot to exit just before the real games begin.
What I am going to do is wait for it to peak. It might get as high as $6-7 but I wouldn't count on it. But if it does, I will use this as an opportunity to short the stock for its collapse down below $3. After all, how do you call yourself a high tech company when you spend practically nothing on R&D. This sounds ludicrous to me. Even more ludicrous is thaat this company has managed to stay around for more than a decade, has 58 million shares outstanding and a market cap of $220 Million.
Sorry for the intrusion here but I didn't even know whether a COPY thread existed prior to now and just wanted to share some first hand information to those that could use it. If not for the 3 calls today, I would not be interested in this stock at all. I have written it off as nothing but a bad situation. However, I have no problem turning a profit if I believe there will be a pump and dump where I could get in prior to the scam being perpetrated.
Andrew Vance
BTW-This is not the first time I have heard the claims that the company was "going to show positive earnings" for a quarter. My broker buddy of 15 years has told me he was goimg to short this stock down to zero a few years ago. |
