L.S., my point about having faith in management to execute against its business plan is because that is about all we know right now. No one said anything about that being the only reason to own this stock, but we don't have much more to go on until we hear details. My point is that if you don't have faith that when the details emerge that they will be what management has been promising then you shouldn't own the stock.
You offered no sarcasm, I was just hoping to keep the debate clean. It has been so far.
Regarding the timing of the stock purchase, it was to respond to your assertion that it has drifted during a raging bull market. Some of us have had fantastic returns, some have had large losses. But I agree with you that from any given day a stock should be judged on its future potential as opposed to its past returns.
Regarding at what price I would blame management, it is hard to say. I do feel that the stock has been in the hands of short term traders. One of the reasons is due to the overwhelming retail ownership of the stock. The company doesn't really qualify for institutional ownership due to its balance sheet and lack of revenue base. Once that occurs it will hopefully provide some stability from these 30% to 40% monthly price swings.
I still don't believe that management let anyone on to having substantial revenues prior to this year. They were quite specific about the ramp up at the Shareholders Meeting. We are the ones who anticipated more in spite of that. I will agree that management has probably been caught off guard by how deeply the stock has been punished. I am not saying that one can lay blame at management's door or at anyone else's door for the lack of 1998 revenues. Management told us to expect nominal revenues. What I am saying is that you don't have to blame anyone, other than yourself ( or ourselves ) for anticipating more. We all kept hoping for the next bombshell to propel us forward. It hasn't happened...yet, and it wasn't promised.
GMGC is making the transition from an R&D company to one with "real" products. The problem is that no one has a model for how to value this company. What is the company worth? It has fantastic potential, but how should it be valued? It right now is subject to the whims of many. Believe me, I would be much happier to see the price at $10 than $4.50. I want results. I want a very good return on my investment for the risk being taken. But I also want to allow management the opportunity to finish executing against the very detailed plan it laid out for us in a very straight forward manner. So far they have done everything they said they would do. Once we see the details I believe we will be glad we allowed them that discretion. Of course if they do another financing deal like the last one, I will be as pissed off as anyone ;-)
Finally, I find it hard to believe that felt it necessary to make a statement about whether this thread was for all viewpoints or just supportive ones. Could I have been more clear than to say I welcome opposing and concurring responses?
Best wishes.
Seconds Out. |
