Paul, I think the drop is what I said before -- in a bear market fundamentals do not matter, just supply/demand in the stock, and in the smaller stock area it has been terrible. In FLEXF, you have certainly had margin selling, fund selling, and maybe stock given to an acquiree being sold. The "F" at the end of the symbol also does not help. Don't look for fundamental explanations. The fundamentals have not changed enough to justify going from 50 to 22.
Note COO, which I did not sell quite all of -- 52 to 15, superb mgmt, beats estimates by a couple of cents every quarter, and will continue to do so, recession resistant business, blah, blah, blah. In a bear market, who cares.
The interesting thing is that in such a market you hear every conceivable fundamental reason why a stock is down. It is our task to eliminate the few companies where the issues are valid (unless their correction has way overstated the problems) and invest in the most underpriced of the vast majority which have not had a material change in fundamentals, but just a material change in price. |
