Long term OKNI should come back to 5 in two weeks. This is just my opinion but if you notice the charts it was trading at 4 before the attempted pump started, and I think it was all well intentioned by the people involved. Jim Greene and others were probably just so excited at the possibilities, and looking back my guess is this is the first stock Greene and his firm ever did pr for, so maybe they didn't realize the repercussions of mythic proportion exaggerations (we'll compete with ATHM, big things are in the works, you'll be pleasantly surprised very soon, ground floor opportunity on a huge internet gorrilla... well you know the rest).
Also "big news coming out very soon" means different things to different people. For example when AT&T says they'll have big news very shortly, they don't mean they hired a consulting firm. But for a 7-11 store, hiring a consulting firm would be a big deal... quite a step.
Right now I think all investors should consider holding for two weeks. OKNI management reads this board and they know they have to level with investors, put out exact information on revenues, and in fact all financials, and realistic information on their new "proprietary technology" and what can realistically be expected from it. I believe Entrata and High Speed were doing allright before this all started but I don't know for sure. As near as we can tell Harris is still doing well, and as far as we know Entrata still has contracts with Harris.
It's no time for panic, but OKNI's next news release better be something better than news about their attempts at raising more money, or their hiring more pr people.
Conversely if they fail to put out some real information that would have to be taken as a sign that it's not there, in which case they should just not say anything which is better for us than putting out a news story that says, we have no revenues, no earnings, in fact nothing but what we once thought was a good idea.
I don't think any of us on this board will be putting a very high percentage of our portfolio into a stock without a lot more information than we ever got with this one. |
