To: gvander,Greg Smith, Larry Brubaker, all those who are skeptical(and either not in Valence or short it): Relax. No one is making you buy the stock. I don't recall many people even telling you to buy it. If you are right, and all that shit hits the fan and the floorless convertible kicks in, then you can either buy it later or you can short it now. I certainly don't care and I do welcome your opinions.
I've been long, traded once out of it last year at the $ 8 level and bought in in the $ 5 - $ 6 level. So I am a bullish hypster, I guess. I think they will hire a CFO pretty soon, I think their battery has been sent to OEMs out of NI for some time, and I think they'll get a contract by 1/27. If not, then I'll lose a boatload of money - and you'll be right with your skepticism.
We have pretty well established that (1) we don't really know if the company has been able to ramp up line 1 and produce batteries for OEMs; (2) the financing they completed has some barbs in it - if they don't have some kind of material event by 1/27/99, then the stock will likely fall substantially, maybe to the $ 1 level Zeev Hed forecasts; and (3) we don't know if they will have a contract by 1/27.
So, as I've said elsewhere, you can look at the stock as an interesting speculation with substantial upside, as I and a number of others do, or you can look at it as an over-promoted charade destined for the crapper. And I'll grant you that every day they don't announce that "magical event", the stock become inherently more risky.
But it does strike me as a bit incongruous that, after all these months, when the stock has a rise from $ 3 and change to nearly $ 8, all these posters suddenly appear and question Valence's finaicials, their position, the market, Lev Dawson, the conference call, etc. etc.
You're free to challenge, but no one is really asking you to buy the stock - I'd personally be happy to see all those worriers in the
"wall of worry" out there doing their worrying thing... |
