I have read the last 93 posts on EGAM and none of them mention what I am about to say. First my history. Bought over 2 on a rec by Frank Catalano (see Cat Picks) and increased position between 1 and 2. I was one of the sellers between 4 and 5. I sold enough to reduce my cost in the stock to zero in one account and well under 2 in another,
I'll tell why I didn't sell it all. Since my initial research, either
when I spoke with the company, or, my more likely, in a company mailing, management stated that the short term (2-3 yrs IMO) goal would be to build this company to be an attractive buy out target for one of the larger players (Sierra On-Line?). The price stated was 8.
None of you mentioned that and I really don't want to take the time to go back and read several hundred more posts to look for the info.
It would appear that over the course of the last year, mgt is on target for what they stated they were attempting to do. Build this small company's niche in the game market of <$15 and sell it to a company whose customer base is $40-60 per game. If this company's stock price continues to react on "traders" ins and outs on the downside to the mid 2's I will double or triple current positions.
I would suggest, if you are interested in checking out what I said here, that you contact company PR and request all press releases and
reports for the past year. In my past contacts with the company, they
were eager to promote themselves and very nice to talk to. Good investing to ya. My target for this company is 8 if they stay fixed on
making their personal fortunes and checking out. If mgt goals change and they elect to stay focused for the long term 4-10 years, the stock
can increase in direct relation to the numbers of people on the planet that don't have 50 bucks to spend on a regular basis but 15 is always a doable deal on a rainy day. All they need to do is keep MARKETING. I visited my closest Computer superstore after Xmas. Out of about 12 titles they carried, about 2/3 out of stock and reordered, the remaining titles only one or two left.
Do not, DO NOT, allow the daily, weekly, violent percentage swings in this issue scare you. That will go away. Then, one morning this jewel will GAP on an announcement that will squeeze and trader or MM on the short side till their cajones turn blue. Most ressponsible MM's stay in close contact with the companies they trade in. Bank on it.
Sorry for the length of this. Lost of reading, lots of response.
Jay |
