Taken from Briefing.com..
14:35 ET ******
ALYDAAR (ALYD) 9 3/16 -1/4 Along with filing the 10-Q today (earnings were announced earlier), Alydaar CEO Robert Gruder issued a press release stating his intention to buy some stock in his own company. Alydaar stock has been beaten down sharply over the past year, from $24 last September when Briefing first wrote about it. Gruder states that "the marketplace perceives Alydaar as a Year 2000 company," as if that is somehow erroneous. Since Alydaar does not derive one nickel of revenue from any other source, currently, the market has no other choice. There is, of course, no guarantee that the market will like Alydaar's post-2000 strategy, whatever it is. Data Dimensions (DDIM) has concrete evidence of its post-2000 plans, having completed its acquisition of ST Labs, a software testing concern. But DDIM's stock hasn't exactly taken off, although it is off its lows. Gruder may have plans, but they haven't been revealed yet. With Alydaar so far, its been a story of selling among Alydaar insiders, with not one purchase since becoming an SEC filing company late last year. Since then, Gruder has sold $1.8 million worth of his shares. But, prior to that, Gruder was quoted in the Charlotte, NC, local newspaper as having sold over $1 million in shares in August of 1997. He still holds over 7 million shares for a net worth of $65 million. So, it will be very interesting to see exactly how many shares he buys back. The SEC required filing, a Form 144, hasn't been made yet, so we can't tell what kind of comittment Gruder is willing to make. If he makes a move like Steve Ballmer did back in March 1989, when he bought $49 million worth of Microsoft stock by margining his existing holdings (at that time) of $150 million, we'll be suitably impressed. Until then, the press release should be ignored, as it appears it is. Alydaar has only had four up days in the last twenty, and has fallen from 16 5/16 on 7/20 to 9 3/16 today.
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