I think that the whole trading context of GBIT makes it a provocative buy right now. First, the general market is ugly and fearful, having already gone down a considerable amount. (I think there's a shot at a big rally some time after mid October.) Second is the uncertainty created by the failure of GBIT to respond to IGHS's offer. (And, eventually, they will respond.) Third, there's a lot of early tax-loss selling going on now, especially in beaten-down small caps. Finally, there are the stock-specific fears of folks who believe that if a stock goes down, there must be significant, though unknown, reasons for that to happen, so they sell also; thus, their fears set others' fears in motion. But flying in the face of all these headwinds is how investors typically buy a stock when it's low. Generally, the time to be cautious is when everyone's euphoric, but that's not how most people function.
Unless the company states a specific earnings-announcement date, I'd look for the last week in October or the first week in November. |
