I'm not sure, but I think that the SEC regulation 144 A defines a "qualified investor" as a non-brokerage institution. But I could be wrong. It would make sense that Bear Stearns might be an underwriter, which might then initiate coverage of THQ. It remains to be seen. But I still consider THQ a rarity in the market, in that it has proven, highly-competent management, an expanding product portfolio, a sound growth strategy, solid profitability, good balance sheet, high growth in a growing industry, low valuation. The company is great, but the stock is lousy. As THQ gets bigger, I suspect the stock will achieve more stability, and it will ultimately reflect the underlying value more closely.
Todd |
