Dellfan,
I normally wouldn't argue with you since it's quite obvious that you don't know this company. But to clear the air, you are confusing institutional lockup with insider. Kim's shares are locked until July so it's not him getting greedy. Hundreds of thousands of shares have block traded since 1/28 so obvious one or more big players wants out.
The institutional overhang is also why today's spike was tempered. Today's market reaction caught the seller(s) off guard and they quickly sold into the strength. When the overhang is sold off, this stock will buoy up as it tried to do today (IMHO). I do not have a crystal ball as to when the overhang will end, but based on the volume that has traded since 1/28 plus the increased attention today I'm optimistic that we will be out of the woods soon.
As for the announcement, I expected this at some point but this was not the announcement that Mr. Firestone alluded to. There is more to come in the next few weeks and it will involve a marketing agreement that will drive more eyeballs to ebworld.com. This "splitoff" announcement today builds the infrastructure for the spinoff/IPO I have predicted for later this year. If/when this becomes reality, ELBO's market cap will appreciate greatly through their majority interest in a pure ecommerce play that is dominant in a $5B+ niche.
Another plus to ELBO -- Check out SNE's recent rise on Playstation II disclosure (MER is raving it). ELBO will be the dominant international distributor of this technology both retail and etail.
BTW, IR is adding a link to ebworld. In my experience, IR has been quite responsive to phone calls and email. But I wouldn't gauge complacency though on an IR web presence. Financial statements are much better metrics. It's here that you see 14% SSS growth, 100 new stores planned, 1200% ecommerce growth, doubling cash reserves, and other positive moves. THAT is my point about ELBO not becoming complacent after IPO, not an IR web site.
My involvement in the gaming industry was not from a "shop" as you put it and I point this out to illustrate your tendency to shoot from the hip when you don't know the facts. ELBO has a killer lockout strategy and though it's mentioned in their 10Q's it's something else to live it.
Your posts on this board have been to misconstrue out of ignorance. Moreover since you don't have a position one way or the other I can't figure out why you're wasting everybody's time here. Good luck with your Dell, and if you have an informed post to contribute please feel welcome to add to our discussion.
TJ |
