Best to take a longterm approach with GBIT. This reminds me a lot like TGSK (now Great White Marine). That stock was at $1.00 - $1.30 for a month or so. Daytraders getting out after a small gain, and MM's trying to short it kept it down for a few weeks, then it finally hitting $3.00, after recently announced their second quarter earning report which was even more postive than the first. They too had questions regarding their stock structure and convertibles, that they too have cleaned up.
I like GBIT better because their customers are more solid (Fortune 500 and government), they are fully NASDAQ, and the recent churning has gotten tons of people who bought at lower levels out. Most investors now have an average price of closer to $2.00 in my opinion, as many people own this at the $2-3 level from the run up a few months ago or bought from $1.00 - $1.375 recently.
It will probably take a little time. DT's do not belong in this stock, imo, investors do. I think the current quarter will be even better than 9 cents per share, but of course no one knows that yet. Historically speaking the second half is better, so that is what I base my opinion on....that and the confidence of a very conservative CEO, Norman Muller.
Good luck INVESTORS,
Dave |
