"...dismissal of Dan Masters"? Does anyone notice a paradigm here?
The stock runs up on promising deals; its float trades several times over. Then, the management is sacked by Wilfred Shaw. Explosion and then implosion, and through it all, Wilfred Shaw lives to fight another day. A few select quotes from the thread make my point:
Leroyt explained for everyone. last Spring:
MIS originally stood for Multimedia Interactive Services (or something close to that). The principal effort of the company was to emulate a company called FUNCO (FNCO) which sells used video games (primarily). Dan Masters had NO part in it whatsoever.
This is true, and the company's stock went to $3.00 with Wilfred Shaw at the helm before crashing dramatically. The old directors -- for one reason or another -- left the company, but Shaw remained. Despite being president of the company, the blame was shifted to the departed, as is evident in the following testimony, again by Leroyt:
Once again, I do NOT fault the previous management for not having GOOD IDEAS. That's why I purchase a few shares in 1994 and 95. BUT, the previous management were complete failures on EXECUTION.
Joe Sing tried to correct this revisionist history, and at least one person agreed:
I (qcom), for one, am skeptical about the MISM thing. The same people DO keep showing up. And It's rather commonplace to see BB bad guys keep reinventing themselves and the companies they operate.
But the company's efforts had clearly congealed in investor's minds; Sing's posts were vehemently attacked. Leroyt expressed the consensus opinion:
Finally, I personally know of no statements that Joe Sing has said that were incorrect and would entail lying and lawsuits. I understand that Joe has a point of view -- which primarily seems to be anger towards Wilfred Shaw and a desire to right the image of the OLD management who were fired (IMO that's basically what happened) by Wilfred.
So it is that MISM lived to "explode" another day. As Stockjock-e observed:
Take a look at the chart on MISM, look at the volume over the last 3 months, average volume has gone from almost nil to several hundred thousands shares per week! Thats liquidity for you, liquidity attracts buyers, buyers bring consolidation, and that is what is happening now. The technicals were unreadable until 6 months ago...
Indeed, stock was flying out the door. But like all "good" thing the company couldn't live up to the expectations that it had helped sew so effectively and, in the end, a scapegoat had to be found.
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