Remember that scene from Network???? I'm mad as hell. . .
Pat, just remember the adage about not fighting the tape. Right now, NN doesn't have a lot of credibility. Part of it is a legacy from the last time around and part of it is from the pre-announcement. In this kind of environment any negative news(fair, unfair, true, rumor, possibility, meaningless, etc.) will help depress the stock.
I'm sure that, at some point, the bargain hunters will step in. But, it seems to me that the larger trend won't be reversed until some solid news regarding sales or large contracts breaks the cynicism.
Right now, NN looks like a falling knife, to me. Since I no longer have any vested interest in the co. I think I'll wait for the knife to hit ground before I try to pick it up. |
