Disconcerting, but the pick-up in volume tells me that, while some are panicking (perhaps to meet margin calls), plenty of others are taking advantage of the misery of others and stealing their shares. The bid drops away and more people panic, then the market maker (or someone here) snaps up their shares. At $2.50 per share, this company had a market value of only $12.75 million which is an absurdly low number at 82% of revenue, 127% of BV. Forget the fact that, net of cash, you are buying at less than half of trailing revenues, 75% of BV, and get whatever the potential is of NetGain for next to nothing. Unless one is being forcibly liquidated to meet margin calls, selling now is simply insane.
JMO,
Bob
PS: Anyone that regularly reads the software trades, let us know if you see any write-ups on NetGain. With official release this month, I'd hope someone would review it. |
