Anthony, I played IMAL on the long side and did very well with it, but I just can't believe how miserable this company's fundamentals are. For the quarter ended Sep 30, revenues amounted to a pathetic $354,616 and somehow they managed to incur losses amounting $3,830,728 for the same period. So for every 1 dollar the company generated, it managed to lose over $10 -- just exactly what kind of business model is that?
The news with AT&T is trivial and meaningless.
I think there are a lot of dummies out there thought this company is another MALL since they sound similar. After all, there were many people who bought ZOOM, thinking it was XMCM and there were idiots who bought a bb stock TMCO thinking it was TMCS not too long ago.
Many of my acquaintances don't even understand the idea of a stock split, thinking they are really getting 50% sale on the stock. It seems surrealistic that all of them are decently educated, with all holding at least a BS/BA degree and most holding a Master or professional degree.
For many of the people who are blindly chasing UBID, EBAY and the rest today and in the last few days, the stock market simply represents a gigantic casino and racetrack. With the proliferations of Internet and Electronic trading, the sad thing is that they don't even have to leave the house in order to gamble their life savings away without ever understanding any of the risks involved. |
