Topjim re:<I know the company well>
Not as well as you might like to think. Note the following contrary to your statement concerning lock-up:
"But if a company simply doesn't have much value, prices generally won't recover. Electronics Boutique Holdings (NASDAQ:ELBO - news) , which operates specialty electronic game stores throughout the U.S. and other countries, issued its IPO at $14.00. After January 28, 1999, its lock-up expiration day, the stock took a downturn from $18.13 to its current levels of $13.50."
fnews.yahoo.com
As for Mr. Kim - color him greedy. Just look at the cash he took from both his IPO's. Just in ELBO's case, it's a multiple of the $6 million you you claim. Read the information concerning te borrowing done just before the IPO and where the proceeds went.
As for the company's complacency - have you ever tried to visit Investor relations through their web site? Not. It's not there.
As for pump and dump - I never accused them of same, quite the contrary. But if they did, I agree with your statements concerning their reaction.
And as for the announcement made - you can judge the market's reaction for yourself. None. Nada. And don't expect any other earthshaking announcements. And your conjecture concerning the subject matter of the announcement, of course, proved to be inaccurate.
As for your competing with them - your shop would have undoubtedly failed anyway, even without ELBO's presence.
As for short interest, I understand why that would happen in ELBO's case, although I am not a participant there. But after this "unexiting announcement" I might be.
As for Dell, which has shown 125% appreciation since Elbo hit the market, I'll follow your advice.
But I may come back from time to time so I can congratulate you on your wise stock picking re:ELBO! |
