JDN... I agree with most of your perspective. This company and its management never said this was going to be a rocket. They started as a little pimple on the ass of America and have successfully grown themselves in two years to a larger pimple on the world's ass, but still a pimple nonetheless.
Now... for those of us who saw the original pimple and bought in early 1997 through early summer, we bought into that company in its growing stages. Then, what happened? This pimple of a company got hyped on this board especially, stock price ran up way ahead of fundamentals, fundamentals were not good enough to attract institutions but the stock price and the hype attracted the MMs and the shorts, hedge funds , etc. and the rest is mired while this company grows into its adult roles and capabilities.
Is 6 1/2 fair at this time? Absolutely not. 8-9 as Rick Bullotta has suggested? You bet. However, because of history this stock will NEVER appreciate until the fundamentals arrive. We are close but we are certainly never going to be associated with the lunacy nor stock appreciation of AOL or YHOO. And fair valuation will be harder to attain because of our history.
As we approach 8,9 and 10 and above, all the hyped victims that bought into the upper ranges and have held for soooooo long(remember, we want our 100% overnight profits)are going to sell, making it even harder for this stock to attract new buyers.
Lessons learned...the hard way..at our expense. Don't ever listen to raving comments about stocks especially when fundamentals aren't there yet. Sell when you think price has exceeded the fundamentals and most will be happy. I'm in the black with this company and have a nice return since 1997. I'm holding on because I don't have any downside due to good fundamentals. I'm sorry most others can't say that, thus the frustration.
BTW...who's sleazier...TM or Sosiak?? Stephen |
