For those who believe that a market is always efficient, we can offer this disproof:
NRID hit $4.875 today (16.773M shares)
IDT (per IDX) is $8.5 (5.05M shares)
Or, in market cap terms, NRID was at $81.77M and IDT was at $42.92M.
Who believes, based on underlying reality, that NRID is worth 90% more than IDT? IDT is selling to Compaq; has trials with Mastercard, Bank of America, and the US Army; and has allied itself with Identix, which has a relatively large, healthy cash flow. And NRID? Extremely weak financially, with a product hooked to a losing API, in a field with very low barriers to entry, and no significant partners or reported sales.
I don't believe in a perfectly efficient market. |
