As someone who had NEVER heard of WAVO before seeing the 'infamous'
interview, I agree w/ Lynn. The company is responsible for the stock
price, not reactions by the market to a TV interview. As somone
who was just watching CNBC before work, I thought I'd share my
reactions after learning the hubbub it created. I'll ignore any
replies, I'm sure fans of the company won't like my reactions,
though I have no opinion either way on the stock...
I'm no Kramer fan, I've tried a free subscription to theStreet.com
and chosen to NOT pay for it. However, I saw that interview and
laughed out loud at how badly the WAVO ceo came across - he did
a lousy job at promoting or even defending his company. His comments
about "having plenty of cash" or whatever, followed by the admission
that they may need to raise capital in the beginning of '99 was a
hoot!!
Kramer was clearly using the price action of WAVO's stock as an
example of the extremes that happen to thinly traded internet
stock. As a completely un-interested observer, I saw no malice
at all on the part of anyone, just a CEO doing a lousy job in an
interview. I saw a reference to Kramer not being allowed on CNBC
because of this, and was amazed - so I found this thread. Based
on the interview I saw, then the press releases from WAVO,
my opinion (which you are free to ignore) is that the mgmt
of WAVO are a bunch of whiners.
Stock price appreciation over the long-term is the ultimate measure
of the world's opinion of a company, may the best stocks win... |
